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To all Wishing you all happy holidays and a healthy New Year. This board has been a wealth of information with many different contributors sharing their knowledge and experiences. Thank you all

Mr. Bagwell makes a good point, and raises a broader point: When dealing with potential controlled/affiliated/management group scenarios in closely held businesses, make sure you have all the facts and ask all the relevant questions as it relates to family attribution. For example, while it would appear based on the facts you provided in this post and previous post that a controlled group does not exist, as Mr. Bagwell points out, if the husband and wife have a minor child (under age 21), all bets are off: Each spouse's 100% ownership in their respective companies is attributed to the minor child. The minor child is deemed to hold a 100% interest in both companies making this a classic brother-sister controlled group of corporations. This means that the controlled group cannot offer both the 401(k) and the SIMPLE IRA in the same year.

The requirement is that advanced notice must be provided within a "reasonable time" prior to the beginning of the plan year. That requirement is "deemed" to be satisfied if it is provided no later than 30 days before the beginning of the plan year. Depending on the facts and circumstances, one can always argue on reasonableness of time.

Not sure I agree. The 30-day advance notice applies when you suspend or reduce safe harbor contributions mid-year. Since the year hasn't started yet, I don't see a problem (employee relations notwithstanding) amending out of safe harbor completely, effective 1/1/2021.

If the loan is on extension then is it in default? Did the CARES Act. specifically prohibit a loan offset as valid CARES Act. withdrawal? I think those are the questions. I believe the answer to the firsts is clear that the loan is not in default prior to 12/31/2020 if it was properly suspended under CARES. The second question is a bit more gray and treating the loan offset as part of a CARES Act distribution may or may not be an aggressive position. I think taking a CARES Act distribution and then repaying the loan balance is not aggressive at all but requires a few more steps and cooperation of the participant to repay the loan with the proceeds of the CARES Act. distribution.