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

More importantly, get paid up front!

Thanks!

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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