Due to hurricane participant takes 2017 RMD in January of 2018.   they were given until january 31 under the hurricane relief. which tax year is it included for, 2017 or 2018?  

Anyone seen a write-up about how a 401k plan for these things would work?  Are there any special caveats to be aware?

Searched for this but did not find matches...

Exisiting DC Plan has husband, wife and son all participating.  There is one employee who is not yet eligible.  Plan assets total $180k.  Should this plan be filing some version of a 5500 form?  I know the one participant rules can apply for the spouses and assets below $250k, but I did not know with the son as an active participant and an employee who may eventually be eligible if they should be filing an "SF" or not?  I believe that no returns have been filed up to this point.

Thanks in advance for all replies.

NFP ER has a non-ERISA 403(b) plan.  For many reasons, this arrangement is no longer satisfactory and they want to 'start fresh'.  They would like to freeze the current plan (I know I can't terminate it and get it all paid out within 12 months) and install a new ERISA 403(b) plan on a single vendor platform.  The participants can transfer their accounts from old plan to new plan even without a distributable event, right?  The catch is that we'd have to preserve distribution options from the old accounts for participants who are still employed at the time of the transfer.

Am I missing anything?  Thanks.

Does anyone have a good way to explain the terms "service organization" and "regularly associated with an FSO in providing services to third parties" to someone who just doesn't want to believe an ASG exists???

I have a physician client (yea, surprise surprise) who decided to sell his "practice" to an organization who will take all of his employees off of his hands, leaving just the physician in his "practice". I inquired as to whether the organization was a service organization and if the physician and the organization will work together to provide health services to patients and the answer given was "_________ (the organization) does not provide healthcare services, but rather administrative and support services to the doctors".

Well, if the employees that were moved to the organization include nurses who will draw blood, insert IV's, etc., how is that NOT considered providing a healthcare service???

I guess I am looking for the Sesame Street version of explaining an A-Org ASG.

Takeover MP plan allows participants to either self direct in brokerage accounts, or choose the pooled account, no combination thereof. Participants in pooled account receive annual accrued statements only. Should they be receiving quarterly statements with updated balances?

We have a client that really dislikes his current recordkeeper who is also doing the tpa services. He wants to transfer his plan over to a new recordkeeper and retain us as the tpa. A letter was sent by the client  stating that the plan be transferred as soon as possible to the new recordkeeper. The current recordkeeper came back stating that they could not do it until until 1/1/2018.

My question is are there any IRS regulations addressing the time frame that a recordkeeper has to transfer plan assets?

Thank you for any insight into this matter.

We have a client who mistakenly took his RMD from his multiple qualified plans from just one of the plans in 2017.  Naturally the plan with the lowest RMD is the one from which he took the RMD.  It is well past the 60 day rollover period.  Is there anything that he can do to correct this issue so he doesn't have to take out almost double what he was required to take out?

I have a client that has had a MEWA since 2008. They never filed the Form M1. They wanted to know of examples of penalty fees others have faced in similar situations on filing Form M1s late. Any input would be greatly appreciated. The DOL will only state what could happen on the fees. Many thanks for your help.

There is a small publisher ... 2 employees.. both owners...  50/50... Setup a Solo 401(k)

• Employee A invested $100K in startup costs
• Employee B investing sweat equity

Employee B is the graphic designer and owns a separate graphic design business. This business does have rank and file employees.    No plan

Employee B does not earn any compensation from the publisher company.  Employee A does and makes a salary deferral contribution from his publishing compensation. 

Both employees receive a K-1 from the publishing company... no SE income declared on these K-1s

• Is this a control group?
• Does the graphic design company need to be included and allow their EEs to participate? 

Thanks

Does anyone have any data about the number of 401(a) plans that are in existence?  Thanks!

Working on starting up a CB plan for a doctor group. For whatever reason they want to start out with small contributions in year 1 and then increase starting in year 2. They know the specific amounts they want to do for each doctor in each year.

Is there any issue with setting up the document to say "effective 1-1-17, this is the pay credit," and then have a second paragraph that says "effective 1-1-18, this is the pay credit"? Assume that the 1-1-18 pay credit is intended to stay in place for awhile, and that we're all good as far as any testing or 415 issues go.

I don't think I've seen a plan document set up like this before, but I'm trying to figure out how it'd be any different than simply listing the initial 1-1-17 formula in the document and then doing an amendment. Does it make a difference to the IRS or for any other purpose? Is it recommended to do an amendment, but wait until 2018 to do it for whatever reason? I'm thinking there shouldn't be any problem setting up the document with both formulas, but want to make sure I'm not overlooking something.

A defined benefit plan that is part of an offset arrangement with a profit sharing plan.  The defined benefit plan is terminating.  In the case of participants in the defined benefit plan who are totally offset as of the plan termination date, is the plan administrator required to provide a copy of the Notice of Intent to Terminate to these individuals that are totally offset and will not have a benefit payable from the defined benefit plan? 

Plan is pooled, and an exhaustive search for someone turned up nothing.  Balance is $800.  PenChecks (bless them) is willing to take IRA forceouts as low as $50 I am told (the small balance would of course be wiped out by fees soon thereafter).

Are people doing this?  It seems like a practical solution to me, but obviously that makes no difference at all!

What are poeple doing? Carrying these people on the books until they can be forfeited (in my pre-approved doc I can't do this until NRA!).  Is there a way around this?

Generally, a small defined benefit plan must be at least 110% funded after a lump sum distribution is paid to an HCE. Is this also the case for a cash balance plan?

Thanks.

Puerto Rico only (not dual qualified) defined benefit plan is terminating.  US financial institution has indicated that it can only sell annuities to the plan if it has some kind of presence in the United States.  Anyone familiar with where this rule can be found and what qualifies as a minimum "presence"?

I have a self funded health client offering 7 (yes 7) different health plans.  One of the self funded health plans is solely funded by employee contributions.  How does the law speak to excess contributions?  What rights does the employer have to these monies?

Let's say the plan allows for loans to be rolled over, but does not allow new loans to be taken. A participant rolls over the loan from the previous employer (let's say that employer has weekly pay frequency, so 52 loan payments were made a year). The new plan has bi-monthly pay frequency (24 pay periods). Since the new plan does not allow for loans, should the amortization schedule stay the same as it was with the previous employer or can it be changed to a bi-weekly schedule? Also, if the amortization schedule is changed, there might be a slight discrepancy (by a few days) when the loan is paid off. Is that allowed?

Thank you.

I have a participant who has said he would like to stop loan payment withholding from his check because he can no longer afford them and treat it as a taxable distribution.  My first thought is he can't while he is still employed there.  The loan paperwork (which I have not been able to lay my eyes on since new plan in transition to us) should state that it is an irrevocable pledge and conditional upon payroll deduction repayment.  As the plan sponsor, I would think they could not just stop collecting the repayments since it is their job to ensure repayment to the plan.  My next idea is to explore a hardship to pay off the remainder of the loan but I am waiting on the participant to express an immediate and heavy financial burden in one of the safe harbor instances.

Thoughts on the ability of the plan sponsor to stop withholding the payments?  I would think this would be prohibited  transaction land.

Can an HCE Top 20 election in a volume submitter document be amended out any time before year end?