Profit sharing plan owner died in Oct. 2004 after his required beginning date. His RMD for 2004 was paid to his estate, not his spouse, even though decedent had designated his spouse as beneficiary. The distribution check has been deposited in the estate checking account. Is there any remedy for this situation?

Thanks for any help you can offer.

Just discovered a plan for which, reasons unknown (yet), the Schedule P has used an incorrect Trust Identification # going back at least 10 years.

Question - would you go back and file amended returns for all years, or just correct on a current basis? (EIN on the 5500 itself has been correct every year.)

I don't know if a P with incorrect TIN will fail to start the Statute of Limitation running for those years?

I've asked before about the differences between using a brokeridge for a coustodian or contributing directly to a fund family. I've read replies and read other posts on the subject but am still wondering which to use, as I don't quite understand what the differences would be. I know it depends on my situation but is the main diff that using a fund family limits you to that family only, unless you choose a different family for custodian, whereas using a brokeridge for custodian lets you have a variety of fund families in your Roth, if you choose to do so. I do understand that fees would vary depending on which family or broker I use.

I have accounts at Scottrade and Edward Jones and am thinking of using Scott for custodian, I'm 55 and would like to get a Roth opened before April 15 so that my holding period will start in 2004. Any advice or good/bad experiences with custodians will be appreciated.

Thanks A Lot,

mrcharols

For purposes of the source of injury rules in DOL Regulation Section 2590.702(b)(2)(iii), if a plan generally provides benefits for a type of injury, the plan cannot deny benefits for treatment of the injury if the injury is a result of an act of domestic violence or a medical condition. Does this rule apply to both the victim and the perpetrator? The regulation does not specifically state that both the victim and the perpetrator must be afforded benefits, but it doesn't state that a plan can deny benefits to the perpetrator as well. Any thoughts and/or insight?

assuming a last day rule and 1000 hours, our plan document says the match must be allocated by the last day of the plan year. the question is when does the money actually have to be put into the plan?

Greetings,

I am planning to open a ROTH IRA for the first time and I plan to make my investments in stocks via mutual funds.

Question:

For this kind of investment, which may be the better option for opening a Roth:

a) a mutual funds company (e.g. Fidelity, Janus, Vanguard, etc)?

b) a brokrage firm?

c) other?

Thanks,

Marc

My organization offers a pre-tax parking program under the 132 regs. I am trying to get more information on qualifying events that would allow participants to make or change their elections mid-year. For example, if an individual previously did not own a vehicle and used public transportion (subway) to commute to and from work, would purchasing a car mid-year allow them to enroll in the pre-tax parking program?

In your opinion, is sick pay (other than payments to a decedent's estate or beneficiary) ever reported on Form 1099?

Employer pays the benefits -- report on Form W-2, filed by the employer

Employer's agent pays the benefits -- report on Form W-2, filed by the employer

An independent third party makes the payments -- report on Form W-2, and the third party may or may not transfer the filing obligation back to the employer

I'm working with a VEBA that provides sick pay benefits, withholds no taxes, and reports the payments on Form 1099. I can't think of any reason why this approach could be correct and acceptable.

HELP!

Can a Local Union, who is a noncontributing employer, pay into a multiemployer health & welfare plan for one employee of the union only, excluding all other employees of the union?

Can the union, as a contributing employer, pay into the health & welfare fund on behalf of the union office employees as a subgroup with different benefits?

Can the union, who is a contributing employer paying into a pension plan on behalf of its employees, exclude a part-time employee because of that individual's status as a part-time employee?

If you have cites to regs., statutes, cases, etc. ALL THE BETTER!

Thanks sooooo much for your help!

I know the answer to this but I am hoping there might be something out there I am missing. I just found out that the broker for a plan is the spouse of the owner of the company sponsoring the plan. The broker is receiving commissions for the plan. As far as I know this is a prohibited transaction. Is there anything I am missing here? Any PTEs I am not aware of?

My employer recently informed me that he'd like our 1,100 employee hospital to become self-insured. Lawyers and consultants will be hired but he has charged me with putting this together. Where can I look for more than just cursory information. Thanks in advance.

If a person works for two employers and both employers sponsor 401(k) plans, can they defer $14,000 in each plan?

How does the catch up limit work with a client that has a SIMPLE IRA for his dental practice and a 403b plan at the university ?

Example; He earns 12,000 at the university and defers $5,500 into the 403B plan there. He is over Age 50.

In his private practice he defers $9,000 into the SIMPLE ( he is self employed ).

The CPA's software is not allowing the $1,500 SIMPLE catch up.

I know the deferral limit for both plan is $13,000 for 2004. But could he get 2 catch up contributions from each plan ?

S-Corp organization is popular for small business owners, as a means of avoiding the 7.65% FICA on earnings, which instead are treated as dividends.

My question is maintaining a 401(k) plan within an S-Corp.

If an S-corp owner (sole employee) pays himself $20,000, will the 25% of participating payroll limit his TOTAL contributions from salary deferral and employer contributions to the 25% ($5,000), or does this 25% represent only the employer's contribution and 402(g) salary deferral will be in addition to this, with 100% of salary being the final limitation?

Thanks

We have an amendment that was adopted last year and is effective last year when we get a favorable determination letter. We don't expect the determination letter until later this year, which is way past the 210 days after the close of last year. Do we still have to furnish the SMM by the 210 day deadline even if we don't know whether it will be effective? Is there some rule that says a contingent amendment has not been adopted until the contingency has been met?

Okay, please bear with me:

I have worked for a major dc plan provider for 10+ years, currently I handle Form 5500 filings, however, over the years have had much training in various areas of DC plans. It was recently announced that my job will be moving to the Ohio River Valley area. While I am sure that is a beautiful area, relocation is not the best option for me at this time.

1-How difficult are the ASPPA PA-1, 2, 3; DC-1,2 tests?

2-Are the study materials sufficient?

3-Do you have to purchase the study materials to take the tests? (some co-workers in the same position considering sharing the study materials costs)

4-Does the certification really improve marketability?

I have 5 Roth IRA's in a ladder system. I will only take the interest generated yearly if needed.

If I leave the Roth's to my child or grandchild, can they add to them as if they were the original owner and still take the interest tax free?

Can a Credit Union, chartered by the State, be considered an eligible 457b Governmental organization?

What happens when a participant dies and there is an outstanding loan that the surviving spouse knew nothing about? No spousal signature on the loan doc. Is she liable for the loan? any recourse?

If a DC plan generally provides that all distributions under the plan must comply with Section 401(a)(9) and the regs thereunder, does anyone know if the model amendments found in Rev. Proc. 2002-29 must be adopted? Does every plan have to adopt these model, tack on amendments? If not, which plans are not required to do so?

Thank you for your comments.