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Showing content with the highest reputation on 04/10/2018 in Posts
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excluding hce from safe harbor in a board res
Lou S. reacted to Larry Starr for a topic
If the resolution is written in the form of an amendment to the plan and is executed timely (before the plan year begins), then that individual can be excluded. Basically, you need an amendment prior to the time he becomes entitled to a SH contribution. I have seen board resolution that would easily qualify as an amendment, though our method provides an actual amendment to the plan AND a resolution to be adopted in addition.1 point -
Let me qualify my answer by saying I do not practice in DC administration, but as a practical matter, I would record those residual amounts as distributions payable as of 12/31 and not include those assets or people in the year-end numbers, and make sure that the residual amounts have been paid out or take action now to do so. This was easy to do in the old manual balance forward days, not so sure in these press a button get a filing environments. JMHO1 point
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EZ switching to SF; mark as "first return"?
K2retire reacted to Larry Starr for a topic
Yes, the important comment. We are arguing how many angels can fit on the head of a pin, and the truth is it doesn't matter what you say as to that question. All it does is turn on a switch somewhere in the DOL computer records and NO ONE REALLY CARES if you got it wrong! What's the penalty? NOTHING. Bottom line: don't worry; be happy!1 point
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