Simple investment question.... 

401(k) plan with maybe 20 participants.  The investments are held with an RIA... individual investment accounts.  The 2 trustees are not always available to sign the LOA to pay out a participant.  Can someone at the business other than a trustee be listed on the investment to sign these LOAs to pay out a participant?

Can a plan add a true up provision mid year? Seems like they should be able to, as it benefits participants...

If eligible employees do not set up their SIMPLE IRA accounts in a timely manner, can the employer set up the SIMPLE IRAs  on the employees' behalf and if so is there any IRS reg or guidance that permits or requires this?  Thank you in advance!

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Company A maintains a 401(k) plan, consisting of only 1 participant, the owner.  Supposedly the ER terminated this plan within the last 6 months.  Assets possibly not yet distributed. 

Company A purchases Company B in a stock sale, within the last month.  Company B maintains a 401(k) plan. 

Can Company A "inherit" a plan in a stock sale without violating the 12 month successor rule? 

If Company A's 401(k) plan assets are not yet distributed, can we rescind the plan termination and merge the Company B plan into Company A's plan?  

If the assets have been distributed, what options exist? 

Or does the 12 month successor rule not apply when the sponsorship of a plan is the result of the acquisition of a company in a stock sale?  

Thank you. 

The 5500 was prepared with all capital letters.

5558 was prepared with both upper and lower case letter.

Vendor check generated an error stating the 2 forms do not match which was not error before. Vendor said it is probably because of the above.

This is something new? Why should it be an error?

Checked both forms for other mismatched information but there was none.

Anyone encountered anything like this?

I;m having a disagreement with someone regarding this:

Once a loan is taken, obviously it can't be more than 50% of the vested balance (up to $50k).  

What happens once the loan is taken?  Does the 50% still stand?  If a participant with a loan then wants to take an in-service distribution (as allowed by the document), can they not take it if it brings the loan balance to be greater than 50% of the balance (i.e. if someone who is eligible opts to take 100% of their balance, leaving the only current asset as the loan balance)?

I've been told by a record keeper that the 50% rule no longer stands once the loan is taken, but I wanted to confirm.  Is there anything in the regs that I can cite, if I'm correct?

Thanks in advance!

Hi all,

As a current volunteer Taxpayer Advocacy Panel (TAP) member, I am working to get the message out that taxpayers have a real voice in raising concerns about IRS customer service issues. 

In case you weren't aware, through outreach, TAP finds out what those concerns are and presents suggested solutions to the IRS. (We don't address individual issues, just systemic improvements.) 

I am currently working on making RMD tables and worksheets in the publications more user-friendly, and I want to hear about your experience.  How can we make these calculations understandable for the average taxpayer, employer, and plan administrator?

I am reaching out to the BenefitsLink community also to see if you have other concerns with the IRS tax forms and pubs regarding the retirement plan/IRA world.  You can make suggestions directly (even anonymously) at improveirs.org.  

Let's use our collective experience to back a good cause and make the system work better for everyone.

Thank you,

Cindy Van Bogaert 

TAP member

I have a plan that is a profit sharing only plan that has a plan year end of 11/30 and corresponds to the Employer fiscal year.  However, the employer is changing to calendar and wants to change the plan year to calendar year.  There will be a short plan year from 12/1 to 12/31.  They do not was to make the discretionary profit sharing for the plan year ending 11/30 but would rather make the profit sharing for the entire calendar year.  I think filing deadline has fried my brain.  Is that possible? If so, what are the steps to make that happen?

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Now that inflation measures through August are released [https://www.bls.gov/news.release/cpi.nr0.htm], is anyone up to calculate an estimate of likely 2027 inflation-adjusted amounts for retirement plans?

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Owner only 401k plan.

Owner deducted 23k for 2025 on the w-2 but deposited just now.

What kind of correction is needed, if any?

If need to adjust, I am assuming DoL calculator cannot be used, correct?

What other means can be used?

Let's say the correction is $100, is this a deductible expense? If yes, would be for 2026, correct?

Thank you

I have a new client who started a Solo K for her and her spouse in 2017.  When they set it up they chose Immediate Eligibility.  They excluded Hourly employees as a class (some of them reaching Age 21 - 1 YOS.)  They have had hourly employees (over 23 of them) over the years - some reaching Age 21 and 1 YOS - but have never allowed them in the plan. 

My question is - can you exclude Hourly employees (w-2) as a class - but also select Immediate Eligibility?  It would seem to me that this is discriminatory....but I do know that Hourly can be a little tricky.  I just wanted to make sure I am not misunderstanding this.  

Thanks for the help!

A doctor is retiring but will be receiving payments based on A/R receipts for the next 6 months.

401(k) Plan defines compensation as 3401(a) comp and A/R payments are included in the income.

Would these A/R payments be considered Post Severance Compensation (of course to 2.5 months/last day of plan year) or No?

Thank you!