Leaderboard

For the minimum calculation, the change in value due to the bump in AMC is essentially spread over 7 years as an amortization base. For the maximum calculation, it's included in the Funding Target and the 50% cushion amount so your maximum should be more than you could get using any kind of change in method for the minimum (even if that were possible). The client will be able to fund the full value of the increase in Year 2 , even if the minimum funding calc's don't reflect that.

You might have done this... I have had more success than one would think searching for an obit online. It not only often times names the family but the church the service will be held at. We have called the church and the pastor knows how to contact someone in the family and does it for us.

Same here. My current pre-approved document allows for loan source restrictions, as did my my prior pre-approved document. Both from big vendors that many of the folks on these boards use everyday.

Back date? Never seems like a good idea.

One needs to ask (as usual!) WHY does she want to do that? What does she think she is accomplishing? If she wants to roll over the gross amount so that there is a larger IRA and no taxable distribution, then WHERE is she going to get the money to pay off the loan? She can't take it from the distribution as that results in the same situation of a smaller rollover. If she has the money outside to pay it off, then why doesn't she pay it off? NEVER answer a question a client or participant asks (Yes, I said that correctly: NEVER). Instead, always ask WHY are you asking that? Then you will find out the true agenda/issue and probably there is a better way to accomplish what the actual desire is. All, just, FWIW. As to your actual question (her question, which is probably the wrong question anyway....), the old chestnut of What does your plan (or loan policy) say? If it says it is offset at distribution, then NO, she can't write the check AFTER distribution. Did you review the plan provisions?

Not that it is relevant, because clearly the following requirements were not met. You can make "employee" traditional IRA contributions to a SEP IRA account if the custodian allows them and you designate them as such. Once made, you can not "recharacterize" SEP IRA contributions as traditional IRA contributions.

This will not work. See IRS Publication 590-B, When Must You Withdraw Assets? (Required Minimum Distributions), Page 7 Outstanding rollovers. The IRA account balance is adjusted by outstanding rollovers that aren't in any account at the end of the preceding year.

I do them all in December.