An employee's annuity was excluded from the plan assets on the 2009 Schedule I pursuant to FAB 2009-02.

The employee is rehired in 2010.

How would you add the account back into the plan's assets on the Schedule I? Our guess is 2c, Other Income.

Anyone else encounter this scenario?

LAdies and Gentleman, I am OUTRAGED by this insane requirement that the SSA extension now requires a signature, where for years this was not a requirement. Oh and by the way, since we do 5500's and SSA's at the same time, that basically means signature is requireed on ALL extensions because I have not at that time determined if I even NEED an SSA. (OK maybe I'll make it a point to figure that out, but I'd prefer not to have to go there).

And apparently it's not even clear if as a TPA I can sign the extension?? So now the client needs to actually sign the extension and mail it?? REally?? All this extra effort for an informational return?? I ask you, what purpose is served??

I want to organize a march on Capitol Hill - who's with me??

Calling ASPPA - defeat this insane requirement!

I don't believe it can be done, but can a retiree (no longer working for the employer) make a rollover contribution of their account from another qualified plan of the employer to their 403(b) custodial account? For example: employer sponsors DB and 403(b) Participant retires with an accrued benefit in the DB and wants to roll over the lump sum value into the 403(b) (both plans are sponsored by their former employer)

How long after a participant submits a change in status request to revoke their election do they have to submit claims?

simple question- when prepping Schedule H or I, are amounts that are reimbursements for fees treated as Other Income or subtracted from the Administrative Expenses

May an employee exceed the $49,000 415 limit by BOTH the 402g7 catch-up AND the 414v catch-up?

Has anyone else been getting notices that 5500's were not timely filed? We have been getting them in some cases with extensions filed for (they ask for approved copy but form 5558 says no copy of approval will be sent), and in other cases they were filed timely. Just curious and appreciate feed back.

Company mistakenly 'mis-coded' some participnats salary deferrals and they were not funded along with the associated match (match on a vesting schedule) for more than half the year.

Since this has happened some of these participants have left. Some of these corrections are around $10 in deferral and match, everything I read says they will need to fund, however, they may be able to FF the amounts because they are under $75 under the corrective distribution, is this on the right track? Also, when the ER makes up the deferral and match, should they fund as a deferral or QNEC and match or QMAC?

Thanks all

The DOL website states that late top hat submissions can be made by mail using the most current Form 5500 (with only limited informatio nrequired). I assume it is okay to use the printed form (which is marked "SAMPLE") for this specific purpose. Does anyone know if that's incorrect?

Is Form 5500 required to be filed for a Health Reimbursement Arrangement when funding is made by the employer only and it is not a benefit under a cafeteria plan?

Any guidance would be appreciated. Thank You.

I have a client who is being bought and wants to terminate the plan before the purchase.

Supposed date of close of company is August 8. Payroll runs from 7/24 to 8/6, with payment date of 8/13. Is it okay for a check that is dated later than the plan termination to have deferrals?

There is a group in which one of the partners leaves the company along with over half the employees. All these employees have elected cobra from their former company. The prior company wants to change their name as well as their tax id number essentially closing the prior company business.

When the new company sets up their new benefits under the new name and tax id number, are they under any obligation to offer the prior cobra participants benefits under their new company?

What should a plan administrator do if it sent out a notice to interested parties that was premature? The plan administrator thought it would file a determination letter filing on a certain date, and sent out the notice to interested parties accordingly, but now has determined that it needs additional time to file the application. Should it send another notice out stating that the first notice is withdrawn, or should it ignore the first notice and send a second notice when it is time to file?

what is the difference? Is it that there is no exclusion of certain ERs? I am failing to see a nuance.

From what I have read, hardships for funeral expenses are available for immediate family members. Is a grandparent considered an immediate family member in this case?

Here is the situation. We have an owner of a corporation who unfortunately passed away. This owner always received a bonus at the end of each year, but this year the corporation was trying to process the bonus as soon as possible because of the health situation. However the bonus did not get paid prior to the passing of the owner. The plan document defines compensation as Form W-2 Compensation. From the initial research that has been done, it appears the compensation will be listed on the 1099-Misc and will be issued in the name of the deceased employees legal representative. But the compensation will be listed on the owner’s W-2 for FICA and FUTA but will not be listed on box 1 of W-2. The question is whether or not the compensation is counted for retirement plan purposes since it is not on box 1 but is on other boxes on the W-2.

Here is the situation. We have an owner of a corporation who unfortunately passed away. This owner always received a bonus at the end of each year, but this year the corporation was trying to process the bonus as soon as possible because of the health situation. However the bonus did not get paid prior to the passing of the owner. The plan document defines compensation as Form W-2 Compensation. From the initial research that has been done, it appears the compensation will be listed on the 1099-Misc and will be issued in the name of the deceased employees legal representative. But the compensation will be listed on the owner’s W-2 for FICA and FUTA but will not be listed on box 1 of W-2. The question is whether or not the compensation is counted for retirement plan purposes since it is not on box 1 but is on other boxes on the W-2.

New version of the form was released Friday. Did not see any mention of how long the IRS would continue to accept the prior version of the Form. Called the IRS and was told the old form would no longer be accepted now that the new version was released. Called back today to see if I get the same answer and was told they have not had any training on that subject. Our software vendor does not plan on issuing a service pack to update the form any time soon. Does anyone have any insight to offer regarding if/how long the IRS will accept the prior version of the form? We are wanting to send in extensions this week for all calendar year plans that have not signed their form 5500 yet but are hesitant to do so pending this form issue. Thanks

Situation: Plan document permits participants to defer up to the maximum permitted by law to the plan, no percent or dollar limits (other than statuatory) hardcoded in plan document.

Problem: Plan Sponsor has limited all participants (HCEs and NHCEs) to only defer up to 15% of compensation.

Timeframe: Plan Sponsor has operated the plan this way; "always".

Question: Do I have as big a corrective contribution situation as I think I have or is there another way to view this situation?

Thanks

Normally when we process a distribution, we charge a processing fee directly to the participant's account. The plan sponsor has a number of terminees who's whereabouts are unknown. If we use some sort of locator service, can we deduct those fees from the participant's account as well?