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Showing content with the highest reputation on 10/13/2023 in Posts
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5500 Automatic Extension
Luke Bailey and 2 others reacted to Bill Presson for a topic
The instructions outline that option in detail. You can use it or not, as you see fit.3 points -
5500 Automatic Extension
Luke Bailey reacted to Lou S. for a topic
The Plan Sponsor simply needs to maintain a copy of the tax return extension in their files and produce it should the IRS request it.1 point -
Contributions dedline for Solo 401k as Sole Proprietorship
Bill Presson reacted to Bird for a topic
After tax contributions are not after tax 401(k) contributions. You're the person who said this wasn't too challenging.1 point -
Prior PBGC filings
Luke Bailey reacted to Lou S. for a topic
If the client is setup as the Administrator on the PBGC site, they can grant you access by inviting you. If the prior TPA did everything you might need their assistance. As for the premium, if it's a small plan using the lookback, the premium might be high since the interest rates lag what's been going on.1 point -
Prior PBGC filings
Luke Bailey reacted to truphao for a topic
Again, just had a similar experience. I ended up drafting aa detailed email outlining the professional responsibility of the prior actuary to transition the work. That did it. Not the best nor the enjoyable experience but it might do the job.1 point -
Prior PBGC filings
Luke Bailey reacted to truphao for a topic
If you get the access to the PBGC MYPAA portal you should be able to see the history of prior filings right there. Which might be a challenge if the prior TPA is the "most non-cooperative". I just had the similar experience - the prior TPA made sure everything is the most difficult for the takeover.1 point -
Stop there. Refer him to the SPD, which should in turn refer to, or include, written QDRO procedures and claims procedures. He is making a claim for benefits. Make him follow the claims procedures. Stop trying to explain or coach.1 point
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Assuming the plan doesn't currently allow for discretionary match I would assume they would need to adopt the amendment before they started depositing the matching contributions to the plan but not later than the end of the plan year for the discretionary amendment. That said, if they did start depositing the match early, I think the eventual amendment would most likely work as a self correction under the newly expanded IRS rules.1 point
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Is Some PEP trust account information private?
Bill Presson reacted to Luke Bailey for a topic
With Appreciation, "trust agreement" normally means the legal document between the employer(s) and trustee(s) creating trust. The distribution and other disbursement ledger is usually called a "trust report." Just sayin'.1 point