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Oh I agree whole heartedly. Finding the late deposits is a snap! But now you found this late deposit. Are you not now "obligated" to do the correction? And isn't your fee to correct something like this $150 or something like that, assuming you don't go through VFCP? You have to calculate the interest, allocate the interest to the deposit, figure out if they all still have an account before depositing 6 cents. In our office if person A does something, person B (a more seasoned consultant/manager type) has to review it. I assume you have to charge for all of that work. That's what I mean where clients might get a little bent out of shape.

Yes.

Friday's release was too late to be edited and published in yesterday's Bulletin No. 2021-29. Check next week.

Was the $ amount specified in the QDRO or just the % of the account balance? If the $ amount was specified, I say, everything is fine. However, if the % was specified in the QDRO, and you don't agree with the payment amount, then you should communicate your concerns to the Plan Administrator. If you are acting as the Plan Administrator, you should consider sending both attorneys a letter expressing your concerns. If neither responds, then you have done your duty. The attorney represents the individual and is trying to get the most of their client. You represent all plan participants, include the AP. Is it possible the valuation date used in the QDRO is not the same valuation date you used? If the plan is still accruing benefits, maybe additional benefits earned after a certain date were not allocated to the AP?

Page 3 of the instructions are very clear. https://www.irs.gov/pub/irs-pdf/i5500ez.pdf Final ReturnAll one-participant plans and all foreign plans should file a return for their final plan year indicating that all assets have been distributed.Check box A(3) if all assets under the plan(s) (including insurance/annuity contracts) have been distributed to the participants and beneficiaries or distributed or transferred to another plan. The final plan year is the year in which distribution of all plan assets is completed. The final year ends the last day of the month the assets leave the plan. You count the normal filing deadlines from that month. So 2020 can't be the final year as there were assets in the plan.

From the 5500 instructions (emphasis added): I understand the reference to "manual" signature to mean that is must be signed by the person's own hand. If they want to sign electronically, the only acceptable option is for them to obtain EFAST credentials. For what it's worth, most of our clients obtain their own EFAST credentials and sign their own forms. It is a bit of pain the first year but after that they usually don't have any problems.

While the DOL may not agree - the way I'd look at this is that the 7 day rule is a "safe harbor." The requirement is "as soon as practicable." If for reasons beyond the control of the employer it went that extra day, then it may be "as soon as practicable" even though it didn't meet the safe harbor. The DOL would look at the regularity of prior contributions - and in my experience would say if you can do it in x days, you should be able to do it in x days - so "as soon as practicable" to them is the pattern of behavior established. Conversely, if you do it consistently in x days, and ONCE do it in x-1 days, they have been know to hold you to the x-1 standard, and deem all other contributions as late.