I am preparing several delinquent Form 5500 EZ's and was wondering if, because they are delinquent, there is still a need to file the Sch P with the return.

As an employer are we required by law to offer COBRA benefits - in this case dental, to employees who terminated their employment. Our dental plan is an employee sponsored plan, that means, employee pay for the premium, as employers we do not contribute to the plan, right now we just enroll and terminate when an employee resigned.

Can a SIMPLE 401(k) plan be rolled or transferred to another SIMPLE 401(k) plan or another qualified plan?

See this quick reference by TAGDATA.

http://www.tagdata.com/TAG-Quick-Reference...lover-Table.htm

Their interpretation seems logical- however, I have always thought we could rely on a Revenue procedure.

I contact a brokerage firm in New Jersey, but they seem unsure- according to them, the employer must decide.

My 84 year old father passed away in May 2001. I was named his independent exucutor in his will and will be filing his final tax return. My father left behind a traditional IRA naming me as the beneficiary and a money market account JTWROS--naming me as the survivor of that account. He had no other sources of income except for Social Security which ended upon his death.

Do I need to file a 1041 or will a final tax return suffix? (I cannot see where his estate had a gross income of $600 or more.) Does an IRA generate income to an estate? I just simply do not understand what an estate is in this context regarding the IRS and form 1041. Please help!!!

Julie:confused:

We need to contribute $500 each for our two daughters for the tax exempt education IRA. We are a bit confused as to the way in investing it, to get the best returns. Suggestions would be really appreciated. Thank you !

Does anyone out there have any experience drafting a partial retirement overlay for a nonqualified deferred compensation (top-hat) plan - i.e., participants receive a set amount over a ten year period following death, disability, or retirement, or alternatively they draw on a portion of the same amount during a partial retirement phase, with the balance payable upon death, disability, or full retirement.

It is my understanding that a safe harbor 401(k) plan is prohibited from requiring 1000 hours and employment on the last day of the year. What if a large number of employees are seasonal, however? Is there any exception for this?

I established a Roth IRA back in 1999. I will become eligible to draw on my Roth beginning June,2006. I have been told that I must hold my IRA intact for 5 years before I can access it.

My question is this; If I die before the 5 year holding period my wife will inherit my Roth. Will she be able to access it immediately, or after the 5 year period expires, or on June 2006 ( the date I was eleigible to begin receiving distributions)? She is 3 years younger than me.

Thanx for your help guys

Hi

I have company stocks in my 401k. The company is not public.

I got laid off and I wonder if I am closing my 401k, will I get the cash value of these stocks?

I need to know my rights, as I suspect foul play.

I thought the IRS released some model amendment language for the GUST amendments but now I can't find them. Am I hallucinating?

Can anyone cite to me where in writing it states that retirement plan assets are protected from civil lawsuit settlements (personal participant lawsuits, not plan lawsuits)

This is not a one person plan, or a spouse lawsuit, or a QDRO. The lawsuit is a personal participant lawsuit. If he loses, and is charged and has to pay a civil settlement, I need to know where it says his retirement plan assets can not be touched.

I can find a lot on PLAN lawsuits being protected in certain circumstances, just not personal lawsuits.

Really would appreciate CITES!

Thanks a lot.

I am trying to figure out if an owner of a company sells his interest in that company to start up another company and rolls his qualified retirement balance into the new company's plan, is that rollover considered a related-rollover and would count in the top heavy test.

We have a situation which we are unclear about. An employee terminated in March and had already been a participant in the cafeteria plan but hadn't used up their medical expense account. This employee was rehired in October. The plan document states that they cannot reenter the plan until the next plan year but we are wondering if they can use the money that is still in their medical expense account- for claims after their rehire date? (we do know that they could still use that money for expenses incurred before their term date) Any input would be greatly appreciated!!

Thanks,

Rachel

*** If anyone has any idea, please respond! We need to figure it out ASAP! Thanks!

I know that you cannot take advantage of dependent care FSA plan while you are on a leave of absence (e.g., maternity leave). However, I cannot remember if we are required to continue taking out the deduction, or stopping the deduction.

Seems like I remember some silly rule that said deductions continue during your leave - because you should have planned for the leave.

But, then I remember something about when you go out on leave (FMLA) you can make changes to your elections.

Help.

Can someone help me get a handle on some of the issues regarding IRA (and other tax deferred assets) and estate planning. About 1/2 of my uncle's estate is in IRAs (approx. $2.5 mil.) and from what I read, there are not a alot of good options to achieve the following: 1) pass as much wealth on to his heirs and 2) avoid as much tax as you can (both income and estate tax). These objectives are conflicting and it seems that it is difficult to achieve both was any reasonable amount of success.

I guess he can roll the IRA into his spouse's name where you grow assets tax deferred, but then have to pay higher estate tax while the heirs will inherit an income tax burden.

Or he could roll the IRA into some kind of foundation I guess which would avoid the taxes, but leave the heirs out in the cold.

Or I guess he could begin to tax distributions from the IRA (he is 61) over the next 10 years let's say and take the income tax hit over time and then gift these "after tax" assets to his heirs to remove them from his estate.

What are some of his options here? Thanks in advance for your thoughts.

We have an ESOP that allocated dividends to the participants. These dividends remain in the plan, they were not distributed to the participants. On the Schedule E question 15(e) asks for dividends paid to participants. Do we have any? Or because the money remains in the plan do we not have any?

We have a plan that allocated dividends in the ESOP to the participants. We did not pay these dividends to the participants, they remain in the plan. On the Schedule E of the Form 5500 question 15(e) asks for dividends paid to participants, do we have any to list in 15(e)?

Would there be any "protected benefit" issues in a situation where a "non-ERISA" §403(B)(7) custodial arangement is merged into an "ERISA" §403(B)(7) arrangement?

ERISA rules re: diversification of qualified employer real property held by a plan. 407(d)(4)(A) says a "substantial" number of the parcels which are geographically diverse. I thought the rule was three (3) or more parcels that were geographically diverse? Am i right? Was this contained in a DOL guidance letter or the like?

where can i get a copy of dol advisory 77-1 online?

thanks.

(and of course . . . time is of the essence!)

Line 7(d) on the new Form 5307 reads:

"Are there any 'Other' boxes selected in the adoption agreement?"

This is a new question that wasn't on the older Form 5307. The very brief instructions provided by the IRS say to "Answer this 'Yes' if you have selected any choice labeled 'Other' in the adoption agreement."

OK , so I have an adoption agreement in front of me that has a category "Age Requirement" and option #1 is No age requirement, option #2 is 20 1/2, option #3 is 21, and option #4 is "Other" followed by a describe line. If someone checks option #4, should they check "Yes" on line 7d of the 5307?

Now , I have another adoption agreement that has a category Excluded Categories of Employees. Option #1 is to exclude leased employees. Option #2 doesn't explicitly use the word other, but it says "Named Categories" and has a describe line following it. If someone selects this option #2, should they check "Yes" on line 7d even though the adoption agreement doesn't explicitly use the word "other"?

Any thoughts??