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Showing content with the highest reputation on 02/04/2025 in Posts

  1. WDIK
    The 402(g) limit is for an individual. You total all salary deferrals to all 401(k) plans. The 415 limit applies to the plans of each employer/sponsor separately.
    4 points
  2. RatherBeGolfing
    Yes unintended top heavy consequence
    3 points
  3. Peter Gulia
    If one uses a Schedule P to start the running of the statute-of-limitations period on a retirement plan’s trust: The limitations period does not begin to run until one has filed the tax return or information return. While the IRS now counts a limitations period from the Form 5500, using the old year’s Schedule P likely can’t hurt and might help. This is not advice to anyone.
    2 points
  4. Lou S.
    I don't think I'd change a thing on the filing with exception of checking the amended box and adding the correct attachment.
    1 point
  5. Lou S.
    If you are in black out, they may not have loaded your loan on to the new providers platform yet. Check the day after you come out of blackout. If doesn't show up, talk to the person in your company who handles the 401(k) and tell them they need to straighten this out or you'll contact the DOL.
    1 point
  6. Bill Presson
    Larry Starr AND Jim Norman in the same current thread? It's a post-Festivus miracle!
    1 point
  7. Larry Starr
    I didn't see one single CORRECT answer. A retirement plan uses a trust to hold the assets. The trust is required to have it's own tax ID. PERIOD. Yes, of course you can ignore it and continue to hope that the IRS will never match income to tax IDs, but that doesn't change the answer. Ray, continue to do it the right way, regardless of what others have said.
    1 point
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