Hope123

Thanks

Thank you. I was able to speak an advisor (he doesn’t handle solo 401(k), his company handles defined benefit plans) and he suggested 2 options. One of them was exactly what you suggested. His other option is to file 2023 showing the small dividend as the ending balance and file final form for 2024 using dividend as beginning balance and zero ending balance (there is a issue of not terminating the plan within one year so he said filing for 2023 would help with that situation). What do you think about this second option? Before seeing this, I actually called IRS helpline and I was told that final form for 2024 should be filed showing dividend as the beginning balance. I then called fidelity and was told that they would be sending another 1099-R for the dividend rollover. thank you!!

One person solo 401k was terminated and assets were rolled over middle of Dec 2023. At the end of December, a small dividend was posted. It was rolled over to IRA on Jan 2nd 2024. This was for a business that was closed. I understand a final form 5500 ez needs to be filed for 2024 selecting short year plan. Answering questions regarding number of participants and asset totals at the beginning and end of the years, not sure what to select. At the beginning of Jan 2024, balance that was on the account was only the small dividend that posted on Dec 29th. Total plan assets - is the beginning of year total the amount that was first rolled over in Dec 2023 plus dividend? Or is it the dividend from January? I know ending balance is zero. Was the participant still an active participant at the beginning of the 2024? Since plan was terminated in 2023, what would be the correct answer? When answering Contributions received from employer and participant - are these amounts for the entire time the plan existed? Thank you for any feedback. Hoping to get clarification soon since the form is due today. I would appreciate any comments.

One person solo 401k was terminated and assets were rolled over middle of Dec 2023. At the end of December, a small dividend was posted. It was rolled over to IRA on Jan 2nd 2024. This was for a business that was closed. I understand a final form 5500 ez needs to be filed for 2024 selecting short year plan. Answering questions regarding number of participants and asset totals at the beginning and end of the years, not sure what to select. At the beginning of Jan 2024, balance that was on the account was only the small dividend that posted on Dec 29th. Total plan assets - is the beginning of year total the amount that was first rolled over in Dec 2023 plus dividend? Or is it the dividend from January? I know ending balance is zero. Was the participant still an active participant at the beginning of the 2024? Since plan was terminated in 2023, what would be the correct answer? When answering Contributions received from employer and participant - are these amounts for the entire time the plan existed? Thank you for any feedback. Hoping to get some advice since it’s due today.