Consulting

OFFERING CLIENTS PEACE OF MIND

Your retirement plan is a vital resource to you and your employees.

You need and deserve the highest quality service to ensure your plan continues to meet your retirement objectives and remains in qualified tax status. You also want to control costs and ensure that your regulatory and fiduciary obligations are met.

We help you reach your objectives. Your consultant and support staff are assigned to your plan with the utmost care and diligence in mind. You will always have a real person to talk to at QBI with any questions and concerns you may have. All or our staff are highly trained professionals with vast experience in the industry and they understand the needs and objectives of their clients. We map out the full range of your responsibilities and provide a framework for developing a successful, compliant retirement plan.

QBI's consulting services include:

  • DELINQUENT FILER VOLUNTARY COMPLIANCE (DFVC) PROGRAM
    CONSULTING

    Delinquent Filer Voluntary Compliance (DFVC) Program

    Late filings of Annual Returns (Form 5500) can be corrected through the Delinquent Filer Voluntary Compliance (DFVC) Program. QBI can assist you in filing late returns under the DFVC program, substantially reducing DOL penalties and negating IRS sanction

  • EMPLOYEE PLANS COMPLIANCE RESOLUTION SYSTEM (EPCRS)
    CONSULTING

    Employee Plans Compliance Resolution System (EPCRS)

    Are you faced with plan document deficiencies or errors? Perhaps your plan has failed to adhere to IRS rules and regulations? The penalties for failures discovered on audit can be substantial. Fortunately, the IRS promotes voluntary corrections through its Employee Plans Compliance Resolution System (EPCRS). Depending on the nature of the your plan's failures or deficiencies, QBI can assist you to make "self- corrections" without IRS penalties or to submit the issues to the IRS "Voluntary Compliance Program" for review and correction with moderate penalties. Don't let a problem be caught on audit! Save yourself time and money by volunteering to fix it. QBI can lead you through these processes and prepare the necessary filings to keep your plan in compliance with the law and minimize IRS or DOL penalties.

  • VOLUNTARY COMPLIANCE PROGRAM (VCP)
    CONSULTING

    Voluntary Compliance Program (VCP)

    Sometimes mistakes occur in the operation of retirement plans. Fortunately the IRS provides extensive guidelines on how to correct these problems, avoiding adverse tax consequences to the company and the plan participants. Some errors can be self-corrected with no need to involve the IRS. Other errors may require a filing with the IRS under its Voluntary Compliance Program (VCP). When mistakes are discovered, QBI’s staff of credentialed and Enrolled Retirement Plan Agents can help determine the best way to correct them and whether or not an IRS filing is needed. Proper correction is essential to preserve a plan’s tax-favored status.

    QBI will:

    • Help you quantify the problem,
    • Determine and make recommendations regarding the corrective options available,
    • Assist with implementing the chosen correction and properly documenting the process,
    • If necessary, submit a VCP application to the IRS,
    • Work with the IRS to obtain a written compliance statement approving the plan correction, and
    • Help document procedures to avoid future errors.

    This process brings your plan back into compliance with the tax code, protects the company’s tax deductions for the plan, and ensures that the participants’ plan accounts continue to grow on a tax deferred basis.
  • PLAN AUDITS
    CONSULTING

    Plan Audits

    Qualified retirement plans can be subject to a number of audit requirements. Certain large plans may require an independent audit of the plan’s trust and operation in connection with the Annual Return (Form 5500) filing. Plans may also be selected by the IRS or DOL for a random compliance audit. Your QBI team will coordinate all such audits with you, your CPA, trust custodian, and the applicable government agency, either on-site or at our office.

  • PLAN TERMINATIONS
    CONSULTING

    Plan Terminations

    In the event it becomes necessary to terminate your plan, your QBI team will prepare all the necessary resolutions, determine plan benefits, and prepare all the participant distribution paperwork. We will also prepare and submit the plan termination for a favorable IRS determination letter at your option. We can also coordinate the spin-off of a part of your plan to a new or existing plan, as well as the merger of plans and the transfer of assets and liabilities between plans.

 


QBI retirement services can help!

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or Call us (818) 594-4900