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Showing content with the highest reputation on 03/17/2020 in Posts
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Does anyone know if any of the ARA bodies have advocated to the IRS or if the IRS is considering filing deadline extensions due to the pandemic? DB plans in particular have a 4/30 PPA restatement adoption due date and, if required, determination letter application filing due date. Just curious, as an unexpected prolonged sickness hitting service providers or their client plan sponsors could derail the timing necessary to complete the process.1 point
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Annual pooled account statements (when markets have changed)
Peter Gulia reacted to Larry Starr for a topic
Yes; the same criteria: either a LARGE distribution, OR a significant change (up or down) in the asset values of the plan.1 point -
Annual pooled account statements (when markets have changed)
Bill Presson reacted to RatherBeGolfing for a topic
I had one client do it last year. Several long tenured staff members retired, and the shareholders decided that a special valuation was warranted to credit them with significant earnings. Another client just adopted a policy that for 2020, a special valuation will be done as of the last day of the month when a distribution is requested, and that is what the distribution will be based on, whether up or down from the last valuation.1 point -
DB Restatement deadline
Belgarath reacted to Mike Preston for a topic
You are kidding, right?1 point -
Form 5500 Software, Pros and Cons
Bill Presson reacted to RatherBeGolfing for a topic
There is also a fourth way, known as the Larry way ? @Larry Starr1 point -
Merge 401(k) Plan into Simple IRA Plan
Luke Bailey reacted to Bill Presson for a topic
Rollover. Prior to that year, only SIMPLE IRA money could be rolled into a SIMPLE IRA account. https://www.irs.gov/pub/irs-tege/rollover_chart.pdf1 point