The combined limit 404(a)(70 limit does not apply if NO employee is a beneficiary in both DB and DC plans.

I have a DB plan and a 401(k)/Profit Sharing plan -- all HCEs (i.e. no NHCE in plan).

Does the combined limit apply if I have one employee in the DB and the 401(k) deferral, but NOT the PSP and Match?

Does the combined limit apply if I have one employee in the DB and the 401(k) Deferral and Match, but NOT the PSP?

Thanks for any advice.

I have a 403b plan and am failing the ACP test. Can they refunds to my HCE be rolled to a 457 plan?

Can the 401(k) match exceed the deferral? What is the maximum?

For example: Deferral = $22,500 Can the match be $25,000? What is the maximum?

Thanks.

Suppose an employer sponsors a safe harbor 401(k) plan with a safe harbor match. Also, suppose the sponsor a cross-tested profit sharing plan.

The profit sharing plan must be tested for 401(a)4. Must all components of the safe harbor 401(k) be aggregated for testing purposes? Or does the safe harbor 401(k) stand on its own?

Thanks.

Does anyone have or know where I might find an excel spreadsheet to calculate income, penalties and interest under the proposed income inclusion reg?

Plan does not allow for loans, however, participant (HCE) took one anyway, was not discovered until the yearly valuation completed. I would consider this an ineligible distribution rather than a deemed distribution, since loans not allowed, so what corrective steps would be needed, that is which correction program would I use to right the ship.

Thanks

I'm not having much luck getting answers to my 403(b) questions, but here's another one just in case somebody takes pity on me.

The plan document says that the ER can contribute any amount necessary to correct a violation under EPCRS or the VFCP. But I don't see a reference in either the document or the VFCP material that says how the earnings should be allocated. I'm talking about earnings over several months, so the only method that makes sense to me is to allocate the amount pro-rata based on the participant account balances. But I would be interested in hearing the thoughts of others who are far more familiar with these matters than I am.

one of my clients has an insurance policy as part of the plan assets. Back in 1998 when the plan changed recordkeepers, the insurance policy was dropped off of the books. It has now resurfaced and they want to amend the returns to properly reflect it in the assets . The 1998 to 2010 5500's have to be amended.

Would filing through the DFVCP be the correct way to fix this?

Does anyone know if there are any problems with an owner of a small business setting up a DB plan just for himself? If it is possible, would it have to be unqualified?

What are the distribution options for a 401(k) Plan that terminates 12/1/2010 and establishes a SIMPLE IRA effective 1/1/2011?

Dilema: I understand that when there is a successor plan (the SIMPLE IRA in this case), the 401(k) funds must be transferred into the successor plan. But what are the options when the SIMPLE IRA (successor plan) does not accept a direct transfer of assets from a 401(k) Plan?

Has anyone heard anything from "contacts" at either ASPPA or the IRS as to whether the IRS is going to return to sanity on this issue, and not have it apply to 5500 preparers?

Notice 2010-84, Q&A 3 & 7 discusses the allowance for loans to be included in a in-plan Roth conversion.

Does anyone know whether the loan account is subject to the age 59 1/2 requirement?

Has the IRS announced anything about when regulations will be issued? I know it's probably a silly questions, but if a plan sponsor wants to reflect it in Jan. 15 quarterly it could be important. In particular about how to deal with controlled group situations and allocating excess compensation and extraordinary dividends?

How do I complete schedule c, in particular, Section 2 of Part I?

I knoiw there was transitional relief for a good faith effort, which applies in this situaiton.

(I posted this first in the 5500 "Department" but no one replied )

i have a pulmonary doctor who earns directors fees from a local hospital. He receives a 1099 for these services and he is not employed there. He also owns his own medical llc and has elected entity status as a corp. Doctor wants to max fund a SEP for his director fees but TPA says no since he owns 100% of his entity and has employees and receives a W-2 for income paid by his entity for professional services. Is this correct?

I seem to recollect that contributions may no longer be made to an IRA after an individual has attainted age 70.5. Correct - or no?

What about SAR SEPs and SEP IRAs?

Also, I am fairly sure that's NOT the case with qualified plans.

Thanks!

I have a client with a discretionary employer match. Is there a sample letter available that I can give them to send to the participants if they elect to not exercise the match next year? Please PM me if you would prefer not to post in the forum...

Thanks in advance

If a Plan is reaching the 120 participant threshold, what do you think about the Employer adopting a new Plan to avoid the large plan audit? If possible, are there any unreasonable eligibility classifications to stay away from?

Plan with Top Paid Group Election has 10 employees prior year so top paid group is 2. There are 3 owners (>5%) and 7 staff. The highest paid employee is one of the owners, lets say $300,000. The next two highest paid are non-owners and they earn the same amount, lets say $250,000. Are both non-owners considered HCEs?? Thanks.

I am assisting our client with an application under the VFCP to correct several months of late EE deferrals under their 403(b) plan. The lost interest has been calculated by using the VFCP calculator and now I'm moving on to the Form 5330. I was caught off guard when I read the instructions under Schedule C, Tax on Prohibited Transactions, because I don't see reference to a 403(b) plan under the description of what the term "plan" means. Perhaps they don't have to file a 5330?