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NO AFTAPS done few years

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A DB plan was not administered for a few years. They came to us to bring them up to date (valuations , filings etc.). There were no AFTAPS since 2017. Do we take the AFTAP percentage  that was prepared for 2017 and subtract 10% for each year until we reach  the current year? Thank you.

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Too many issues here.

The penalty for 101j notice itself, which I assume was not provided, is going to cost quite a bundle. Hopefully no distributions were made which is another issue as no AFTAP i.e. less than 60%.

If no SB's done, may have serious funding issues as well.

And the list goes on.

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Thank you very much. No distributions were made, so the distribution restriction is not an issue in this case. The SB's will have to be done and we will see if there are funding issues. Thank you!

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On 7/28/2021 at 9:04 PM, shERPA said:

More importantly, get paid up front!


On 7/28/2021 at 10:00 PM, chc93 said:

Were 5500's and SB's filed?  Were benefit restrictions notices distributed to participants?  May have a lot of issues...

Thank you very much. 

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