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| Course Name |
| Plan Loans Training & Certification Program |
Contact Hours: 8 |
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| Course Description |
This course will help you understand rules, and includes numerous tips, examples, and procedural recommendations that are interspersed with interactive Q and A sessions to help your learn quickly and easily. It`s "Bookmark" feature also lets you learn at your own pace, and gives you the ability to review previously completed material.
This course gives you one full year`s access to content, FREE updates, a "Fundamentals of Plan Loans" certificate, and two hours of PHR / SPHR re-certification credit |
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| Outcome |
Upon completion of this course, you will be able to:
- Identify the purposes for which a participant loan may be made
- Determine the maximum loan amount
- Describe how to apply loan repayments
- Identify the requirements that must be satisfied in order for a participant loan to avoid being a prohibited transaction
- Identify the requirements that must be satisfied in order for a participant loan to avoid being treated as a taxable distribution
- Describe the deemed distribution rules
- Describe various participant loan issues and how to correct them
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| Assessment |
This course contains numerous End of Lesson Quizzes to help you measure your progress and mastery of the materials. A score of 85 or higher is required to earn a Certification.
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| Outline |
Participant Loans: The Basics:
The Purpose Of Loans
Loan Approval Process
Maximum Permissible Loan Amount Restriction
Loan Repayments
Prohibited Transactions
Taxation Issues:
Taxation Requirements
Consequences Resulting From A Loan In Violation Of Code Section 72(p)
Loans Treated As Taxable Distributions
Correcting Loan Errors
Other Special Rules |
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