I am trying to complete a 2009 Schedule SB for an Eligible Charity Plan, which as such is on a delayed PPA effective date so is now under pre-PPA funding rules. SB instructions say enter "1" on line 27 and only complete certain sections of the SB while attaching a 2007 Schedule B marked up for 2009 data. When we enter our lmited Schedule SB info, we get about 10 errors saying "missing or invalid entry" for items that are not required to be completed per the SB instructions.

If anyone else is completing the Schedule SB for an Eligible Charity Plan, are you having this problem and if so, do you have a solution. Thanks.

About a week to go here.....everyone on track? I see some posts about extending the deadline and was just curious how many of us actually feel like we need the extra time?

Client needs to make a contribution for a person for whom an IRA account was not set up. The person is no longer an employee and cannot be located. We are getting push-back from IRA custodians on the employer trying to set up an IRA account for the individual where the person is unavailable to sign. What has been your experience. If you've found an IRA custodian willing to open the account without the employee's signature, what custodian did you use? If you've been abler to convince a custodian to open the account, what arguments/citations did you use? Thank you for your assistance.

Can we legally allowed to cashout out Roth balances along with pre-tax, and how they would be treated. for example, as a combined under 5k or separate balances? Is there anything in the Regulations or code that speaks to involuntary Roth cashouts?

I was on a conference call yesterday that implied that some organization (I think perhaps the AICPA) has again petitioned the DOL to extend the 12-31-09 Form 5500 filing deadline to 12-15-2010. Has anyone else heard that?

Are we legally allowed to cashout out Roth balances along with pre-tax, and how they would be treated. for example, as a combined under 5k or separate balances? Is there anything in the code that speaks to involuntary Roth cashouts?

This qualifies for Ripley's believe it or not. We just had a bunch of 5500 forms bomb yesterday, for lack of proper credentials. So when the clients finally got a live person at the DOL, the clients were informed that the credentials had been deactivated because the clients hadn't used them!!!

The clients just applied for and received these credentials this year, and we haven't even reached the first extended filing date!

My theory is that there is a major conspiracy between the drug companies and the DOL, and the DOL receives illegal kickbacks on the sale of blood pressure medication. But I do know that whatever mentally arthritic people at the DOL are responsible are very fortunate that they are not within my arm's reach right now.

I have attached the signed pdf. form 5500SF, all looks good, however, when I go to e-file-> I am use the 'sign as preparer'.

Once I do this I check the box on the plan admin line and enter my credentials do I also change to my name or leave the true plan administrators name? From reading the directions I think I leave his name but use my credentials... Please let me know if I am on the right track.

Thanks for the assistance (and hope for a blanket extension)

Back in 2007/2008, the IRS released something that used the word 'deference' which we found out later really meant 'prove it'.

A prospect that still has their NRA of 55 in their document now, is concerned that they don't have a study that proves that their normal retirement age is typical for their industry. The plan allows for in-service at Normal Retirement Age.

How would you suggest fixing this?

An accountant says new regs require health premiums paid by/for sch c filers must now be on the sch c, where before they were deducted on the 1040. The result is lowering comp for any retirement plan purposes.

Anybody heard anything about this?

Stockholders are required to terminate health plan immediately before they sell their stock to a purchaser that is part of a controlled group. There are no other health plans with the sold company (or any member of its controlled group) after the termination.

The terminated health plan had COBRA participants.

The purchaser will provide health coverage to the employees of the sold company once the stock purchase is completed - these employees will have no gap in coverage because immediately after the health plan is terminated, they will be covered by the purchaser's health plan.

Q: Will the COBRA participants of the terminated plan be cut off and not have COBRA coverage under the purchaser's plan?

Suppose there is a gap in coverage of a full day, or a week, or a month? Does that make a difference?

Need to file a sched c for a new union client. The 5500 is coded as a 2c for the 2008 5500

They have all types of expenses coming out of their plan. Some of the expenses are

-insurance

-payroll

-rent

-telephone

-office

Do these expenses have to go on the Sched C??

Thanks in advance.

A plan's documents are currently individually designed. The last digit of the EIN is 0 or 5. The EGTRRA restatement cycle is E, with a deadline of January 31, 2011.

May the plan be restated at this time using a prototype or volume submitter? I'm wondering if since the prototype era came to an end on April 30, 2010 if it is too late.

if a shareholder in the corp receives some income in the form of a w-2 and other income on a 1099 what plan definition do i need for his 1099 compensation to be counted?

A plan has provision that the required beginning date is age 70 1/2, or if a non-owner for past five years, when actually terminate employment if later.

May this be amended to simply be age 70 1/2 for all employees, without being a cutback of a protected benefit, right or feature?

An employee receives the maximum contribution of $49,000 in his employer's Profit Sharing plan. He has a 33% ownership in his employer's company. Can he also contribute the maximum amount to his SEP during the same plan year?

I saw some discussion on this topic back about 4 or 5 years ago and it was permissible then. Have the rules changed since then?

My client has a participant who was recently in an accident and is in an unconscious state in intensive care. He does not have a POA for his wife, nor can he sign a form or call the Recordkeeper to elect his deferrals to be suspended.

The participant is currently receiving disability and the client would like to suspend his payroll deferral. Can the plan suspend the his payroll deferrals under these circumstances without his consent? Thanks.

If the Recordkeeper will be increasing a plans administrative fees next year and these fees are paid by the plan participants and allocated gross per capita. Is there any legal requirement to notify the participants of this change in fees?

Can a multiemployer DB plan stop payments to people who retired from Union employment (at then-age 55 NRD) that are now collecting a monthly check and working in non-union employment?

I thought not, don't see any such language in the current plan document, but others are insisting yes, the plan should contain this language or could be amended to contain this language.

Opt in for non-web usage - my client is interested in requiring all communication/activity for participants to be web based - for example participant would have to opt in to get paper statements - is there any DOL guidance on this?