Are there any model QMCSO Procedures available? I have no idea where to start with this.

Does anyone have a sample letter they use when they issue two checks to the same participant?

In the year 2000 I made a $2000 contribution to my Roth IRA. Only at tax time did I realize this would be classified as an an "excess contribution". Unfortunately, I dragged my feet and have still not removed the contribution. I want to remove it now but the value of the investment has declined substantially to the the point where there is not $2000 to withdraw.

In a non-retirement investment I would simply sell the fund and take a capital loss. The big question is how do I undo the effects of my original $2000 contribution when there is no longer $2000 in the account. How much do I withdraw? Can I take a capital loss? How do I deal with this on my 2002 tax return?

Adding to the complexity is the fact that the excess contribution was made to a Roth IRA that already has money from a prior year. How do I seperate the excess contribution from the original contributions when the whole thing has gone down the tubes.

Your help is appreciated.

Allan

I know HRAs can reimburse medical insurance premiums as defined under Section 213(d)(1)(D). But if the premium is paid pre-tax, would it be excluded from reimbursement?

Thanks.

I've sent several SS-$ applications to the IRS for Trust ID numbers, and one was kicked back asking for the SSN of the trustee. Is that required?

Excerpt: "Mobile phone companies are making a last stand to block a regulation that would allow subscribers to keep their telephone numbers when they switch wireless carriers."

http://www.washingtonpost.com/wp-dyn/artic...4-2003Apr8.html

I'm looking for PBGC interest rates (graded and immedidate) for 1984. The PBGC website seems to go back to 1993. Anyone know of an online source for years prior?

I am having trouble defining “plan” as it relates to the HIPAA privacy rules. If I have a health plan, dental plan and vision plan, do I have 3 plans each of which needs to meet the 5 million dollar threshold to be considered “large?” Or, are these plans viewed collectively as a “benefit plan” and I should total all of the gross receipts for all plans together to determine if we are over/under 5 million? In a nutshell, I don’t know if we are large or small, but I figure I still have 4 days to comply, so I’m not worried … I’m just having a nervous breakdown. Ahhhh!!!

I'm not getting the e-mail notification of new posts to threads in which I have posted. Does that feature still exist? Is there something else I must do now to get those notifictaions?

Has anyone seen anything with respect to whether compensation prior to the effective date of a SIMPLE IRA could be ignored? Or should total calendar compensation be used regardless of when the plan becomes effective?

Here's an interesting problem. If a company has a fully-insured plan and during enrollment, someone discloses certain medical information about themselves, how should the plan respond? I would presume that the mere fact that someone voluntary discloses medical information about themselves should not automatically require the plan to comply with all of hipaa's administrative requirements. And, if the the plan is using a broker, and the plan only gives enrollment information to the broker, which is still PHI, then then presumably the plan and the broker would have to enter into a business associate agreement.

Any thoughts?

I seem to recall that at either an ASPA or EA conference pre-1999, something akin to the following was asked at the IRS Q & A session:

In the absence of regulations, how will the IRS define "reasonable error" for the purpose of 1.415-6(b)(6)?

The answer was something like "very loosely". I sure wish I could get my hands on that Q & A if anyone has it.

My 16 year old had a $2200 income. Can I start a ROTH IRA for her?

Employer wants to exclude a class of HCEs from the ESOP plan or any DC plan for that matter (this class of HCEs has suggested this) from receiving employer contributions for one year. These HCEs are already eligible participants. It is my understanding you can amend the plan for an employment classification exclusion as long as you can pass the coverage requirements under 410(b). Since your discriminating against HCEs, there will be no problem passing the coverage testing. Any issues with this?

I have a plan that has been using the same interest rate for years... it has never changed. In addition, half of the amount being paid as interest is going to the Plan Administrator as a loan fee. (Example: a $10,000 loan repayable over 5 years at an interest rate of 10%. Total interest over the loan is $2748.20. So, loan fees are 1374.10 - just under $275 a year). [Please forgive my math if it's not accurate... you get the idea, though]

1. I'm concerned that the loan fees are too high for the administration of the loan and that the Plan Administrator cannot substantiate the cost, leading to a prohibited transaction.

2. I'm concerned that the interest rate never changing will result in a prohibited transaction.

Any thoughts out there?

Upon conversion of our payroll system to a new payroll provider, we discovered that the old payroll provider underreported employees' wages due to a miscalculation of the employees' pre-tax contributions to a cafeteria plan. The cafeteria plan includes an employer credit, and the old payroll provider excluded this employer credit from employees' wages.

How can we fix this problem? Is there an EPCRS program for cafeteria plans?

When we issue ADP refund checks after March 15th of a given year, we withhold 10% taxes from the individuals check when the amount is greater than $200. I have been told that this is an IRS mandatory withholding for money refunded where it is taxable in the current year, but can someone point me in the direction of the IRS language stating this fact?

Thanks.

I have a Roth IRA that I have already paid through my income taxes a few years back. Unfortunatly now, I have become disabled and may need to withdraw some money. I understand that I may be waived the penaly fee as I am disabled. But, when I do my taxes for 2003 next year, do I have to again pay taxes on the money I withdraw?

Just trying to get feedback on how everyone values Israel Bonds when they are in a qualified plan. At face value? And if not, how is the value determined each year?

I need to understand this once and for all or else I can't go on.

I understand that two plans can be permissively aggregated for top heavy testing, but that if the group is top heavy, only the plans that are required to be aggregated are actually considered top heavy.

However to permissively aggregate for top heavy testing(which helps many of our law firm plans that cover associates in a separate plan from the partners to avoid making a top heavy ctb), I also understand that the plans must then be aggregated for 401(a)(4), which is fine for the ADP test since the aggregated plans generally always pass ADP.

Now consider that the PS piece of the partner plan is cross-tested. The associates plan provides no PS contribution. However, because of the mechanics of cross-testing (consisting of the NCT and ABT tests) the associates are always included in the test if they cannot be statutoriallly excluded. So, in a sense, have I aggregated the plans for 401(a)(4) by simply cross-testing? Does this mean that the associate plan that is aggregated for top heavy does not need to provide comparable benefits or minimum gateways, as long as the "aggregated" 401(a)(4) cross-test passes with the nonexcludable associates treated as not benefitting.

Make any sense?

Please let me know and thanks!!