Bruce1

When calling the IRS number, they didn't let us get the plan's EIN without the plan sponsor on the phone. 401(k)s are tax-deferred. I've never a 1099 INT or DIV from an IRA or 401k.

I assume that when an employee makes repayments on their 401k loan, the employer doesn't match those repayments because it's not a contribution. I haven't seen anywhere that an employer couldn't match those repayments, but my gut feeling tells me an employer doesn't and shouldn't match 401(k) loan repayments.

Morning star or we use firm plus. Every investment/mutual fund will have a fact sheet and prospectus. Record keepers can have hundreds of investment options, so they can feel free to read through them if they like lol! Information on investments are generally readily available. I've seen 3(38)'s at 10 bps. Good luck!

Gadget we're likely taking this plan to a recordkeeper for this reason. The investment management subsides our administration. We've eliminated the option for hardship distributions, loans, and in-service distributions . The plan document makes terminated employees wait until after year end and after all contributions go into the account. It makes calculating their money types easier. Not really.

Our firm is managing the investments and the administration for a client where each participant has individual brokerage accounts. We process def, match, and ps into each of their individual brokerage accounts. For those who have client's that aren't at traditional record keepers, is it recommended to have individual accounts for each money source?

We have a signed deferral election form to cover our bases.

Do you have a link so I can do more research on the triple-stack match? @Artie M I'll look into how we can declare the discretionary match. I assume that since the match is discretionary, we can declare and fund the match after the year-end.

The plan provides a safe harbor match, matching 100% of compensation up to 6%. I was referring to if we added a discretionary match, matching 100% of compensation up to 4%. From my understanding, you can't provide a match on deferrals that exceeds 6% of comp and pass the ACP test. From what I read, I can't do a discretionary match exceeding 4%? Meaning I can't do a discretionary match of 200% on the first 4% of compensation?

The plan has 3 employees. The owner and his spouse max their 402g and then an additional employee NHCE who doesn't contribute. The plan is a safe harbor 6% match. Since the NHCE employee didn't contribute for 2024. Can we declare a 4% discretionary match for the 2024 year and will the match have to be run through the ACP test? Is there anything I'm missing here?

You could request a deposit correction?

Can we choose which HCEs receive and which don't? Does it have to be an all-or-nothing?

The surviving spouse can assume his 401k as her own and retitle it to her name. That would negate the 10-year rule as that rule doesn't apply to spouses who retitle the 401k/IRA into their name. Is she over the age of 73?

Check the base plan document. Here's what our BPD says "Refunds. If the Plan permits Roth Elective Deferrals, the Participant may elect to have refunds made either from his Pre-tax Elective Deferrals or Roth Elective Deferrals or any combination thereof. Unless a Participant otherwise specifies, a distribution of Excess Elective Deferrals for a year shall be made first from the Participant's pre-tax Elective Deferral account, to the extent such deferrals were made for the year."

I didn't know that. Below is another article that goes over some of the things FPGuy discussed above. https://stwserve.com/new-irs-regulations-on-year-of-death-rmds/

Tom. Our broker/dealer calculates the RMD for each account (including inherited IRAs). I would assume all IRA custodians, provide this service. Yes, that sounds right. Here's what I found online: For most non-spousal beneficiaries who inherit an IRA after 2019, the IRA funds must be distributed to that beneficiary within 10 years after death. So, if an IRA owner dies in October 2024, the beneficiary must clean out the IRA no later than December 31, 2034. https://www.kiplinger.com/taxes/irs-10-year-rule-for-inherited-iras-kiplinger-tax-letter

To satisfy the new secure 2.0 auto-enrollment feature. A QACA arrangement would be considered an eligible automatic contribution arrangement if the QACA contained a provision that would allow an employee to do a permissible withdrawal? Is there anything I'm missing here?

Is it permissible for a Safe Harbor 401k to exclude a class of employees or is this not allowed? If the Safe Harbor 401k is allowed to exclude employees, would the plan have to pass the coverage test?

I'm unfamiliar with the spin-off how does that work?

You're correct that the Roth clock starts over. I received a check for a Roth 401k rollover to an IRA and it stated the date of the first Roth contribution in the 401k. I wasn't sure why it was on there either. I don't see any reason why the receiving custodian would need to receive that information.

NHCE 0% -> HCE limited to 0% NHCE 0-2% -> HCE limited to 2x NHCE 2-8% -> HCE limited to 2+ NHCE 10%+ -> HCE limited to 1.25x

Was there a written election to contribute roth?

Thanks!

My concern was satisfying the SPD requirements. I think it makes more sense to hand out the SPD prior to their entry date. The SPD requirement doesn't seem rational to hand out material after the entry date.

Would it satisfy the SPD notice requirements?

Is it reasonable for an employer to provide an SPD during the enrollment process 10-30 days prior to meeting initial eligibility? Or should the SPD be provided only until after eligibility has been met?