Why Your Plan Administrator Should Be Enrolled – Part 2

June 15, 2012 at 8:39 am Leave a comment

Are all plan administrators the same? Different organizations credential their members according to their own standards, and other individuals choose to practice without credentials or enrollment. Besides education differences, what can an Enrolled Retirement Plan Agent (ERPA) do that an unenrolled practitioner cannot regardless of industry accreditation? The greatest advantage to any client is that an ERPA is permitted to represent the taxpayer before the IRS on matters involving various government forms and programs: Employee Plans Determination Letter Program, Employee Plans Compliance Resolution System, Employee Plans Master and Prototype Program and Volume Submitter Program; and Form 5300 Determination and Form 5500 Annual Report filings. In all these situations, the taxpayer will need to sign a form authorizing the ERPA’s representation. It is important to note that an ERPA cannot do everything, and other experts such as an Enrolled Actuary or ERISA Attorney may be needed under certain circumstances.

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Entry filed under: General, Retirement.

Fee Disclosure Predictions Why Your Retirement Plan Administrator Should Be Enrolled – Part 3

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Christine Gurney

A pension professional who shares her thoughts and ideas about the pension world for industry members and anyone else interested.

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