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Maybe I don't understand the question. You know a loan repayment is NOT an employer or employee CONTRIBUTION to the plan. It is the replacement of one asset (loan receivable amount) with another (cash). Now, I don't really care how the "fundholder" shows anything so long as it has nothing to do with how the plan is administered and how that loan payment is properly accounted for in the plan records/record-keeping. I guess I would prefer that they properly reflect it if they can, but otherwise we will adjust for their poor explanation.

Our default is 10% unless they want a different amount or none at all.

You don't have to do anything with the SEP-IRA. It is really just an IRA that had special rules for funding (the "SEP" part). The potential "issue" about "maintaining" both is about making contributions to both for the same year, not accounts just existing. The 401(k) is plan 001. A SEP-IRA doesn't have a number since there is no (5500) reporting. You can pay fees from the business. (These seem to be Qs for your "...provider that is also a TPA.")

I heard the Facebook PEP coming next year is outstanding ?

Useful for owner-only/HCE-only plans. Otherwise fuggedaboutit!

Perfect answer!

Did he take an RMD from the 401k plan before the rollover? If not the amount of the RMD was an excess contribution and must be returned with earnings, because RMDs are not rollover eligible. In fact, the 401k plan should have distributed the RMD itself before allowing a rollover over of the balance. Retirement account RMDs are always based on the year-end balance at the end of the previous year. So the amount of the eligible rollover to the IRA is not subject to an IRA RMD in the year of the rollover. It will be included in that year's year-end balance for the next year's IRA RMD.

What kind of audit are you concerned about? an IQPA audit? IRS audit? DOL audit? Unless I'm misremembering, if you are subject to circular 230 the chance of audit shouldn't really be a consideration when giving advice. and if they are going to the long form due to participant count - typically they are subject to an IQPA audit anyhow - so I'm not sure I understand the concern? Can you elaborate?