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CPAGold™ Optional Endorsements

 

Registered Representative and Registered Investment Advisers Endorsements

This endorsement expands the Accountants Professional Liability Policy to cover activities as a Registered Rep or RIA, including Cost of Correction coverage.

 

Client Identity Theft Endorsement

This endorsement expands the definition of damages under your Accountants Professional Liability Policy to include: amounts to correct, monitor and safeguard personal identities that you have a legal liability to protect from identity theft.

 

PCAOB Investigation Coverage

This endorsement provides up to $50,000 to pay for legal representative to respond to an investigation by the Public Companies Oversight Board..

 

Fiduciary Coverage Endorsement

This endorsement provides coverage for any Fiduciary Act, including breach of responsibilities imposed under ERIA, HIPAA or other common or statutory law, or errors arising from the administration of a benefit plan.

 

Part-time Legal Services Endorsement

This endorsement provides coverage for services as a part-time attorney or CPA-Attorney. It is not intended to replace lawyers’ professional liability insurance.

 

Valuation Services Endorsement

This endorsement provides coverage for fines and penalties levied against you imposed upon you pursuant to Internal Revenue Code section 6695A.

 

IRS Penalties Endorsement

The U.S. Congress passed a law in May 2007 that tightened the disclosure requirements for tax preparers under Section 6694 of the tax code. Under the law, in order to protect themselves from a potential penalty, preparers would be required to seek disclosure to the IRS any tax positions taken by a taxpayer that didn’t meet the Internal Revenue code’s ‘More Likely Than Not’ standard.Despite work by the AICPA and others, the exposure to member firms offering tax preparation services to clients remains. CPAGold™ provides an optional endorsement to clarify coverage for penalties imposed upon you pursuant to Internal Revenue Code section §6694.

 

Internal Revenue Code 7216 Penalties Endorsement

IRC Section 7216 prohibits anyone who is involved in the preparation of tax returns from knowingly or recklessly disclosing or using the tax-related information provided other than in connection with the preparation of such returns. Anyone who violates this provision may be subject to a fine or even imprisonment.Subject to a Limit of Liability of $25,000 per policy period and deductible of $5,000 per policy period, CPAGold™ provides an optional endorsement to clarify coverage for penalties imposed upon you pursuant to Internal Revenue Code section §7216.