The Department of Labor released the 2025 update to the Voluntary Fiduciary Correction Program (VFCP) including a new self-correction component, first introduced in the November 2022 proposal. Join Alison J. Cohen, Esq. from Ferenczy Benefits Law Center for a review the new updated VFCP, its provisions, and procedures, and learn:
What are the standard types of violations that can be corrected under VFCP? What types of violations can use the new self-correction component (SCC)? How will the SCC work in operation? Why would a plan sponsor want to use SCC versus a traditional VFCP filing?
About the Speaker
Alison J. Cohen, J.D. is a Partner with Ferenczy Benefits Law Center in Atlanta, Georgia. Alison advises clients on many issues related to qualified retirement plans, including design, mergers and acquisitions, audits, and operational issues. Alison commonly works with clients that have operational issues to guide them through the Internal Revenue Service (IRS) and/or Department of Labor (DOL) corrective programs, prepare corrective filings, and prepare and support clients through audits conducted by the IRS and/or DOL. She is a member of the Georgia and California State Bars.
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