Get Section 127 Plan Template

Filling out the Section 127 Plan Template is an essential step for employees seeking educational assistance under the Internal Revenue Code. This guide provides clear, step-by-step instructions on how to complete the form effectively and accurately.

Follow the steps to complete the Section 127 Plan Template online

1. Click the ‘Get Form’ button to obtain the Section 127 Plan Template and open it in your browser.
2. Begin by entering the date on which the company established the Educational Assistance Plan in the designated space.
3. Fill in the name of the company as it appears officially.
4. Specify your employment status, indicating if you qualify as a full-time or part-time employee, based on the hours worked.
5. In the Plan Benefits section, confirm your understanding of the reimbursement limits and the tax-free status of the benefits.
6. Review the Plan Termination clause to understand the company’s rights regarding changes to or termination of the plan.
7. In the Prohibited Payments and Prohibited Choices sections, ensure you are aware of restrictions regarding your eligibility based on shareholder status.
8. In the Covered Educational Expenses section, list the qualified expenses you intend to request reimbursement for, ensuring they meet the criteria established by the plan.
9. Provide written notification to your employer regarding your intention to participate in the educational assistance plan, including the course details and expected reimbursement amounts.
10. Complete the signature section, where both you and an authorized company representative must sign and date the document to verify that you have read and understood the plan.
11. Finally, review your completed form for accuracy, then save your changes, and download, print, or share the form as necessary.

Start completing your Section 127 Plan Template online today to secure your educational benefits.