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Course Name
Plan Loans Training & Certification Program

Contact Hours: 8

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

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

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.

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