WolverineBenefits

A religious school that gets no funding from the diocese anymore is nonetheless still qualified as a QCCO. The school was established in the 1950s, and we suspect that it would have qualified prior to the adoption of the QCCO rules. The school has been told that they likely would not qualify as a QCCO if they were to seek it out now, although they are still listed as a church related entity in the master list of catholic organizations. The issue arose because the school wants to adopt a 457 plan. They are considering whether to "reclassify" itself as a non-QCCO. ERISA and tax-qualification issues for their existing plan aside, have you seen a religious school undertake this process? Any thoughts? PS: We realize that it can still adopt a 409A plan instead, but they would prefer that distributions be eligible for rollover treatment.

An employer is insisting that they filed Forms 1095 for 2023 and 2024 (when electronic filing was required) without filing a 1094 for each year. Is that even possible on the AIR system?

This is not the only compliance issue for this plan so there is a desire to be as thorough as possible with fixing things.

How do square that with the fact that the IRS only honors DFVC if the 8955 is filed? The notice states "this notice provides relief from the penalties applicable under the Code to the late filing of Forms 5500 and 5500-SF only if any applicable Form 8955-SSA is also filed for the year at issue." There could be years which the employer would have had to file the 8955 if the 5500 had been filed on time but based on today's data would not. I am concerned that the IRS would not honor the DFVCP. (I know that we are largely talking about audit risk.)

Assume that a company missed 5 years of 5500 filings and is preparing to submit them through DFVCP. The auditor has explained that in cases like this, it is their practice to only file the 8955 for the most recently missed 5500 filing, since the prior data is "outdated" by the form is filed. Thought on this approach? I don't see this as acceptable. Thanks.

The employer wanted a list of their own active and former participants with balances

In general, how long should an MEP take to produce a list of current participants for a participating employer? I would think this could be done within a day. Just curious.

The ASPPA courses look great!

A client has a new employee who needs some training on a few aspects of benefits administration, including both retirement and welfare plans. Any suggestions?

Required by who- the IRS? Were they submitted for new determination letters and were required as part of the review? Or as part of an audit?

Pension Plan

Can a non-electing church plan define spouse to only include an opposite sex spouse? I saw an older post on this topic. My research keeps taking me down different roads.