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 Fiduciary Income Tax Virginia Tax 2022-2024

Income Tax Virginia 2022-2024 Form

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over the past several years there have been many lawsuits filed against fiduciaries and planned sponsors of retirement plans for that reason I'd like to talk a little bit about fiduciary governance and why it's important well number one it's important for your plan participants to give them added protection number two it is required under erisa and number three it will give you a defensive stance in what's becoming an Ever litigious environment fiduciary governance starts with defining who is a fiduciary fiduciary is anyone who exercises discretion or control over the plan in its assets the duties of that fiduciary are to act solely in the interest of the plan and its participants they are to diversify Investments and make sure that they follow the terms of the planned document so who's paying attention to these fiduciary duties the IRS and the dolr they are auditing and examining based on operational failures for the IRS which is when you don't follow the terms of the planned documen

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