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Plan Amendment to use Forfeitures to fund SH Contributions


401_noob

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To avoid any misinformation on the public record, we received ours from FIS back April 2017.  Of course if you wanted to use it for your clients in 2017 it needed to be signed in 2017.

I ssume they did all of their documents at the same time, but we use the Corbel version.

Austin Powers, CPA, QPA, ERPA

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401_noob: As you now know, the FIS version was out early last year and all our plans have been amended to include the new language.  Once has to ask why you did not ask FIS if they had issued the amendment?  It is one of the items listed on that page where they list the releases.  I expect you would have had an answer and a link within a day. FWIW.

Lawrence C. Starr, FLMI, CLU, CEBS, CPC, ChFC, EA, ATA, QPFC
President
Qualified Plan Consultants, Inc.
46 Daggett Drive
West Springfield, MA 01089
413-736-2066
larrystarr@qpc-inc.com

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15 minutes ago, Larry Starr said:

401_noob: As you now know, the FIS version was out early last year and all our plans have been amended to include the new language.  Once has to ask why you did not ask FIS if they had issued the amendment?  It is one of the items listed on that page where they list the releases.  I expect you would have had an answer and a link within a day. FWIW.

Actually, one does not have to ask.  One might instead say what I said which is that it needed to be signed in 2017.  Same message, no hurt feelings  :P

Austin Powers, CPA, QPA, ERPA

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6 minutes ago, austin3515 said:

Actually, one does not have to ask.  One might instead say what I said which is that it needed to be signed in 2017.  Same message, no hurt feelings  :P

Austin, now you have me confused.  It only needed to be signed in 2017 if you wanted it effective in 2017. For those that sign it in 2018, they have the old language for 2017 and the new language is effective for 2018 and on.  None of that speaks to why 401_noob didn't ask FIS if they had done the amendment instead of assuming it was not done, which is what he said in the initial posting.

Lawrence C. Starr, FLMI, CLU, CEBS, CPC, ChFC, EA, ATA, QPFC
President
Qualified Plan Consultants, Inc.
46 Daggett Drive
West Springfield, MA 01089
413-736-2066
larrystarr@qpc-inc.com

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1 hour ago, Larry Starr said:

For those that sign it in 2018, they have the old language for 2017 and the new language is effective for 2018 and on.  

3 hours ago, austin3515 said:

Of course if you wanted to use it for your clients in 2017 it needed to be signed in 2017

 

 

Austin Powers, CPA, QPA, ERPA

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Thank you everyone for your input. I don't have access to the Relius/Corbel document software and my colleague that does said that she hasn't seen any amendments to facilitate forfeitures used to fund SH and asked if I had. As I don't have access to the software/system I thought that this would be the best place for me to ask and you all answered my question.

Thanks again!

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Have that person add you as a user on the site.  It is super-easy, no additional charge, and you will receive their technical update emails which are awesome.  Among other valuable information you would have received the article in your original post when it was issued (and of course the amendment).

It should be as easy as submitting an "incident" and requesting access. 

Austin Powers, CPA, QPA, ERPA

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30 minutes ago, 401_noob said:

Thank you everyone for your input. I don't have access to the Relius/Corbel document software and my colleague that does said that she hasn't seen any amendments to facilitate forfeitures used to fund SH and asked if I had. As I don't have access to the software/system I thought that this would be the best place for me to ask and you all answered my question.

Thanks again!

That's kind of a big deal that she missed that.

William C. Presson, ERPA, QPA, QKA
bill.presson@gmail.com
C 205.994.4070

 

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