Some of the more significant changes made by the COVID19 legislation (CARES Act) are to the rules regarding participant loans. In addition to the long-awaited self correction options for correcting loan failures, we will cover these recent changes. The new self correction options for loans should save your clients and the participants considerable time and money. As with all new correction procedures, there are many questions on the application to the different loan failures. In this webcast, in addition to explaining the requirements and options, I will address over 50 questions on the application of the new requirements. With the new correction options, the IRS will expect improved compliance. Therefore, it is incumbent on practitioners to have a working knowledge of the loan correction procedures.