Line 10g on the 2000 Form 5500-EZ asks for "Amounts received by the plan other than from contributions."

The instructions to line 10g, say "Include rollovers, direct transfers under section 401(a)(31), transfers under setion 414(l), and net income received by the plan for the year. Do not include unrealized and realized gains or losses."

My question is whether this line is really asking the sponsor to go into the plan's investment records and peel out interest, dividents, rents, and any other sort of investment "income" except realized and unrealized gains or losses. There's no line item asking for the amount of realized or unrealized gains or losses.

It doesn't seem to make sense to lump such income into an item along with rollovers and transfers. For data collection purposes, wouldn't the government want to have some way to separate the increase in a trust fund due to investment results from those that are due to transfers into the plan (whether by employer contributions, rollovers, 414(l) mergers, etc.)?

Is the "income" to be reported merely referring to some obscure kind of income to the plan's trust other than investment income?

I was wondering if anyone knew where or even if we are to report plan name changes on the 2000 form? On the old form there was a box that was checked but I can't seem to find anything on the new form except the section to put new plan sponsor information in. Thanks.

Please advise.

My problem is very basic. For the calendar year 2000, my 401k contribuitons were $10,500 and I never received the employer matching contributions that were part of the plan.

I am fairly sure it was a clerical error, but have no idea about how to get this resolved.

Details. I had made a maximum contribution to my 401k by about July of 2000. The record keeper for my plan up till this point was Pan American. The company I was working for had purchased my prior company and was in the process of closing out the Pan American accounts over to Fidelity. This (I think mandated) consolidation occurred in November of 2000.

In the prior couple of years I would always see the employer matching contributions show up about the end of February of the next calendar year...so my expectation was that Fidelity would show the contribution around March of 2001...and of course I waited till then and no money :mad:

Around April of 2001 I started getting anxious. I have spoken with Fidelity and they say they know nothing about it; infact this plan as it is set up matches every contribution (much better); I have spoken with my (now former) company and they all but told me they have made a mistake...but said Fidelity refused to take the money.

So now they have referred it to ERISA? What they are suppose to do or not do I have no idea.

The crux of the problem is when closing out the original plan a mistake was made by not calculating employer matching contributions.

Do I have any recourse. Should I be seeking legal advice; especially since it is now July and I no longer work for that company. They (former company) are very slow to respond to my inquiries let alone answer the phone.

Is this a typical problem? I would think mergers occur often and this problem should certainly be foreseen?

Should I be seeking legal counsel?

Any advice is appreciated.

Thanks

I belive that the company I work for is doing everything wrong. We have taken verbal abuse as well as working long hours, long weeks and working Holidays. The owner seems to be dipping in the company funds and complanning that we are hurting. Last week 4th of July, we were told that we are getting the week off with no pay. Our accountent was not able to tell use what time off we have avallible. There is no policy nor a employee manual. There seems to be many thing wrongs with the running of this company. Can anyone help? He also tells us that we have stocks in the company, there is no documentaion and we are not public so how can there be stocks?

My question is this: If I open a new Roth IRA and start making contributions, will I also be able to convert traditional IRA funds to the Roth?

I appreciate your response.

What are peoples' reactions to the IRS' new rules on submitting GUST determination letters and the ability, in some cases, for nonstandardized M&P and VS plans to rely on the opinion/advisory letter? With all the various exceptions, it seems like it will be easier just to file them all, with Schedule Q. Any thoughts?

I put in $2000 into my ROTH IRA for year 2000.

Now this account is worth only $1400.

I want to take a $600 tax deduction (itemized under misc. deduction).

How do I do it.

Do I have to withdraw this entire amount and close the Roth IRA account?

Will I get any form showing the loss amount?

thank you.

I am a CPA with limited experience in the administrative end of 401(k) Plans. My client has been approached by a plan participant requesting a sizeable hardship distribution for medical expenses. My client is sure that medical expenses are not the real reason for this request. I wll tell the client to require a loan before the hardship distribution (the plan permits both). However, I was wondering what the administrator's responsibility was here. Under the safe harbor test, is a written statement from the participant that the amount withdrawn does not exceed the medical need enough? Any comments are appreciated.

where can i find the procedure for using the VCP self correction program in order to correct the failure to amend for TRA 86?

I recently went through a costly divorce, along with using poor judgement on some expenditures. I am 34 and living with my parents and am anxious to get out on my own. I wanted to borrow against my 401K to give me capital to do this and my employer would not allow me to. So after 10 years with the same company I quit and took another job so that I could access the 401K money I have. My former employer seems to be in no hurry to release the money to me, it's been about 40 days now. Can anyone tell me what their legal obligation is to me? I know I'm entitled to the money and don't they have a time frame in which they have to release it to me? Also, what is my recourse if they don't?

James

What is the appropriate welfare plan code for AD&D coverage? Stop loss coverage? I am asking in the context of item 8b on the main 5500 schedule.

I am a broker and have just won a bid for a hospital 457 plan. The mutual fund company does not require a third party administrator. What is involved in the administration?

Also, the hospital offers the 457 to everyone, isn't only legal to offer to "highly compensated employees"?

THank you.

Under the minimum contribution gateway test in the final regulations, NHCEs must receive a 5% minimum allocation if the plan is to be allowed to cross test. The preamble makes clear that an NHCE is a kind of "employee," and that an individual is an "employee" only if, among other things, the individual is "benefiting" under the plan. Are employees who get a top heavy contribution of 3%, but no other contribution (because, for example, they do not have 1000 hours of service during the plan year) considered to be "benefiting," and thus must receive a 5% contribution in order for the plan to cross test?

Is the Deficit Reduction Contribution of IRC 412(l) subject to pro-ration for a short plan year?

We have a client who added the Safe Harbor feature to their plan effective with the 2000 Plan year. They have chosen the match contribution to satisfy the safe harbor requirement. Prior to the 2000 Plan year they were making match contributions subject to a vesting schedule. Our firm assumed responsibility for this client at the tail end of the 2000 Plan year.

The client had approximately $10,000 in match forfeitures available for use throughout the 2000 Plan year. Their plan document provides for match forfeitures to be used to reduce future match contributions. During the 2000 Plan year, the client used these forfeitures to reduce the amount paid out of their Corporate checking account towards their safe harbor match contribution.

Any thoughts on problems associated with using non-safe harbor forfeitures to reduce the amount paid out of pocket for a safe harbor match contribution? We have always used available forfeitures in this situation to reduce contributions of the same source (match forfeitures from match subject to vesting used to offset future match contributions subject to vesting).

I have a participant claiming reimbursement of purchase of a home computer for a child with cerebral palsy.

He has submitted a physician's letter stating the child has limited use of the hands (he cannot turn book pages or write by hand), and the computer assists him in writing and reading.

I could argue that the computer alleviates a physical defect, but am unsure whether this passes the "but-for" rule.

What do you think? Reimburse or not?

A plan participant dies and his wife is his beneficiary. She rolls his plan money into an IRA. She dies and leaves all monies in an estate (including her IRAs). Her children are the beneficiaries of the estate. Is there anyway to escape the estate taxes to the children?

From reading other posts, I understand that I can withdraw my basis from the roth IRA with no-tax and no-penalty consequence.

Can I later put back my withdrawal?

Example

1999 contribute 2000 to Roth IRA

2000 contribute 2000 to Roth IRA

2001 withdraw 4000 from Roth IRA (tax-free and no-penalty)

Later in 2001, contribute 6000 to roth IRA <-- is this ok?

(6000 is for the 4000 withdrawal plus the 2000 contribution for 2001).

Sample leave of absence policies and procedures needed. This includes both paid and unpaid LOA's: FMLA, Personal leaves, a section on company disability policy, etc. This could be e-mailed to my personal e-mail address, which is jabarma@home.com.

My Longterm Disability Co. uses any and every pretext to continue to deny my LTD benefits (wrong date to see IME). (I have received SSDI for years now.)

Is there any recourse, such as bad faith, or non-feasance? Thank you!