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Showing content with the highest reputation on 10/04/2018 in Posts

  1. I've seen docs (ASC, not FTW) that provide for an optional true-up at the employer's discretion. So it may come down to your specific text, as to whether or not the plan would allow it, (as opposed to it having to fall under the scope of any additional match contribution rules in your document)
    1 point
  2. There's a potential debate about whether a resolution can rise to the level of a plan amendment but effectively, that's what you need - a plan amendment. It needs to be memorialized for future restatements, SPDs, etc. Depending on the number of people involved, it might make sense to amend Plan B to include that feature for everyone - it's not a huge giveaway and keeps things simpler going forward to have everyone with the same benefits.
    1 point
  3. Luke Bailey

    5500 - Stock Acquisition

    Pretty much in agreement with James K and Pam Shoup, although less optimistic than she that was addressed in a document. Unless the plan document, the stock purchase agreement, or some other corporate instrument appoints someone else as plan administrator, the default "administrator" with legal responsibility to file the 5500's is the current sponsoring employer. This becomes a routine business expense of the sub that the acquirer bought into when it bought the sub, like unpaid bills or fines. Place to deal with this was probably the stock purchase agreement. You should probably check to make sure it wasn't addressed there.
    1 point
  4. Kristina

    Changing EIN Number

    TommyGunn13 is correct. There will be a letter asking for the 5500 Series for the old EIN. The IRS has apparently not connected the dots on this, but we live in hope.,
    1 point
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