austin3515

So you're saying -11g allows me to amend a defective safe harbor plan back into an ADP tested plan?

I'm not following. I thought that was to correct coverage/nondiscriminatiuon issues, not plan document failures, which is what I think I got...

American Fundds (Recordkeeper Direct) ExpertPlan Ascensus The list goes on...

Takeover plan (we hope ) Prior "data processing" provider made them a Safe Harbor Plan effective January 31 2011, but the Plan was not safe harbor in 2010, so clearly not correct. So now what? The document has been signed, so tehcnically the matching contribuion is due. But now my document does not include the ADP test. It seems to me that I have no means of doign the right thing here. Is VCP the only option?

Is there a write-up somehwre on the paid preparer rules?

I just think thats one more thing to look for in the following year (i.e., next year, before D'ing them, you have to chek to see if you reported them last year). just sounds like more work in the end. But that's just my approach of course!

Let's say there are NO participants required to be reported for 2009. Does anyone have a problem with me voluntarily reporting my 2010 people in the 2009 plan year in this situaiton? I have good reasons for doing it this way, so please don't say "why don't you just report them in 2010?"

The key is a plan funded exclusively by IRA's (so same goes for SIMPLE IRA's)

I'm not certain the trustee needs to be in the US. I know that once upon a time I found that you do not need to be a US citizen to be a trustee. The trust just needs to be organized/domiciled in the US courts can have jurisdiction. But don't quote me on anything

So it sounds you look agree that my two distributions should both be exempt from the 10% penalty? I must have read the same articles as you

I agree with you 100% regarding when the doc does not require. Point of clarification though, my document did require it.

I had a plan that simply required spousal consent to any distribution. I assume it was legal because they had a favorable opinion letter. But it was pretty simple, it didn't involve QJSA or anything. Document just said "spousal consent shall be required before approving any distribtuion" or something like that.

What if the document did not mandate lump-sums, but allowed partial distributions? You're saying a QDRO mandates single lump-sum distributions?

So you're suggesting that there might be a time limit? Say the person waits 4 years to close their account. Are you saying someone might argue that the distribution was not pursuant to a QDRO?

Somoene gets a QDRO of $100K. If they take $30K today, and $70K next year, are both payments exempt from the 10% penalty? Assume they do not rollover (of course). Someone is suggesting that the second distriubion is not exempt, but the code plainly says distibutions pursuant to a QDRO are exempt.

"f the 2011 Form 5500 is not available before the plan or DFE filing use the 2010 Form 5500 and enter the 2011 fiscal year beginning and ending dates on the line provided at the top of the form." From Page 4, top right column of the 5500 instructions for 2010. It's not based on the deadline, it's when the filing is actually made.

Step 1: Run the ADP test without OE's. If the testing passes you are fine. There is no requirement to RUN and ADP test. The requirement is to PASS the ADP test. If the test is passed, the fact that you didn't run it before 12/31/09 is moot. Step 2: If you don't pass the test, now your correct, OE's cannot be included. You need to correct under EPCRS which involves making QNEC's. There's a couple of options available.

When can a contribution be deducted under EPCRS? Correction is to make up missed deferralks due to not implementing an employee's election. Ideally, we could deduct in 2010, because a) the missed deferrals relate to 2010, and b) they will be funded by the due date of the employer's return. Any help appreciated.

If it were me, I wouldn't worry about the three months interest. You're talking about $150 total (because 1% a month is extremely high). You get props for being so thorough, but in my opinion, with the loans, there is some wiggle room. So I find it very hard to believe that under audit, this would give you a problem... Another option would be to have the new am scheudle at the new company be $15K plus the accrued interest. Also, make sure the new am scheudle is within the 5 year max, including the 3 month holiday.

We've done 10% of whichever is greater, BOY assets or EOY assets. Don't even need a calculator

How is everyone treating a davis bacon plan, with a safe harbor match, that is top-heavy? Are you treating the TH exemption as invalidated because the plan no longer consists solely of SH and deferrals? Something about that conclusion doesn't feel right to me.

That';s the way it works...

I think this is the section ESOP Guy is referrign to. "If the plan administrator and the plan sponsor are the same person, only the signature as plan administrator needs to be included on the form. Electronic signatures are not required for electronically filed Forms 8955-SSA. " ESOP, I'm not sure it's saying the employer NEVER needs to sign the form. One might even read into this that employer should manually sign the form before electronically filing on their behalf (I choose not to read it that way, but they certainly haven't come out and said "employer's don't need to sign the SSA"). We're sending clients a copy and telling them to sign it, and file it in their records.

"The Filing Information Returns Electronically (FIRE) system will be down December 16, 2011 through January 2, 2012, for programming updates. It is not operational during this time for submissions." just two weeks before the extended deadline... Bravo, IRS. Bravo. Can't wait one more month to do your updates? You can wait 2years to release a form DUE A YEAR AGO, but can';t wait one more month for this currently operational system to be updated. Classic... From the IRS new article, with updated FAQ's on 8955-SSA's http://www.irs.gov/pub/irs-tege/epn_2011_6.pdf

I'm not trying to get anything for free. I just want to find what I'n looking for relative inexpensive amount of money. The Accurint from Lexis NExis is basically what we're looking for, but we don't have anywhere near the volume to pay their minimum monthly rate.