austin3515

Oh right, because it would have taken SO much extra effort to write Trust or Custodial Accounts??? When they say Active Participants on 6a should I read the instructions to make sure it doesn't also include terminated people too??? I suppose I shouldnt complain too much, I got my question answered.

Two plans merge as of 12/31/2010, "Plan Continuing" and "Plan Eliminated". The auditor wants to report ALL investment types as zero (so no mutual funds, etc). But how should I report the schedule A? I'm having a hard time justifying not preparing the A based on the info provided by the insurance company, including reporting an ending balance. The contract itself will actually continue, it will just be re-registered in the name of Plan Continuing. But of course it looks odd to say "no ending balance" on the H and then an Ending balance on the A.

They did, due to a partial term which took place in February.

Plan is invested in a custodial account with Fidelity and therefore there is no trust, and no trustee. What do I indicate the funding arrangement as on the 5500? My only choices are Insurance, Trust and some crazy insurance thing I've never heard of... Why isn't "custodial accounts" an option?

A Doctor's practice shut its doors in February and all of their employees work for a hospital now. The Doctor’s whom are owners of the orgainzation do as well. The practice is still collecting receivables from their pre-Hospital service, thus the doctors are still receiving compensation (W-2). There has yet to be an establishment of a termination date in the form of a resolution or amendment as the practice is just now beginning to "wind things down." The Doctors are still handling "administrative" issues related to the practice, but are no longer performing medical practices. The work they are doing relates to paying old bills, collecting receivables and winding down the practice. Issue 1: Termination Date: When talking about prorating limits is there anything to stop me from using (for example) a 12/31/2011 termination date, thus avoiding proration? Or is there some date where the IRS could argue, "OK, you're monkeyhing with the rules here to avoid proration." Issue 2: Post-severance compensation I am also concerned with w-2 wages paid after May 15 (which is 2.5 months post transfer). When does my 2.5 month clock start ticking?

That doesnt seem possible (even for TIAA:) - you're saying they couldn't for example roll their balance to an IRA?

Anyone tried to transfer a plan out of TIAA? We;re aware of the tiaa-traditional account and the 10 year surrender period, but I was wondering about those plans set up with "RA" contracts, versus GRA contracts. Am I correct that there's really no way to transfer existing RA money because it is a contract with an individual?

But, Tom, what aobut the distributions from the prior yeaR? The year before that? Doth not the same situation exist??

Very much so, thank you. I like the idea of the W-4P in this situation. I would still love a write-up from someone regarding how to handle this, if such a write-up exists..

What do I do??? Does withholding apply? There;'s really no elections, because the truist can't roill it over?? Never had this happen before...

Bird, can I still call you Bird? On message boards, it feels so much more appropriate to call you Bird, as opposed to "Ed"

Johnny works for Parent Co. Johnny leaves ParentCo to go work for ChinaCo, a 100% owned subsidiary of ParentCo. Is there an exception that would allow distribution of his 401k/SH balances because he has had a severance from employment with a US Company? Or must he sever all ties with anyone in the controlled group anywhere in the world?

I should point out that as far as Documents and Administration goes, Relius products, in my opinion are the BEST in the market. The support for those products is outstanding and they rarely require any support at all.

I hate trashing somoene else's business publicly, but Relius has really missed the boat on this efiling thing. They need to start from scratch in a totally web based environment. We switched to FT for the 2010 cycle and have had no problems at all. And they respond to customer service within hours, every time.

Effective when? We jsut send extensions for an 11/30 plan to the "old" address. Is this just fort he 2010 form?

From a recent ASPPA ASAP on the new 5500-EZ. "The instructions show the mailing address for Form 5558 as Department of the Treasury, Internal Revenue Service, Ogden, UT, 84201‐0045—a new zip + 4 code." Is this just for the EZ's, or for all 5500's

I voted teh same direction as jsimmons and let the distribution go (not a lot of money actually), but I definitely agree with this interpretation. The man made his wishes known... It wouold bother me ignoring his wishes just because he died...

Participant filled out his forms indicating he wanted a rollover, and then dies before the rollover is processed. The money is in a pooled account so it takes some time for everything to line up. I say "the participant's election is still valid, and administrative delays should not affect it." But I suppose if the beneficiary in the plan is different than the beneficiary of the IRA there cou8ld be a dispute. Has this been addressed anywhere?

Whether they are allowed to do this or not is a question for the supreme court, because they DID do this. So let's say a school wanted to add a 401k plan, could they? The school in question is a charter school and is a 501c3.

Anone have any experiece? Apparently (I am told) that ify ou offer a 403b to your employees who are teachers in public schools in Texas, you MUST offer the funds of ALL approved vendors to your employees, or at least allow them to choose from all of the approved vendors. DOes anyone know if that is accurate? It just seems so hard to believe that you have not choice but to work with 10 vendors, or something ridiculous like that...

Also, I assume that someone will be writing up these annual disclosures for TPA's. Anyone know who is planning on releasing one? ASPPA? Corbel? TAG?

Annual investment disclosures, it would appear, need to be made to eligbile employees who have chosen not to contribute, and tehrefore have no money in the plan. I'm referring to the disclosuries regarding the performance, benchmarks, annual expenses, etc. This is all information that (for example) John Hancock is best to prepare (and I'm sure they will). I'm just hoping I am misreading this requirement, and that it is not necessary to coordinate a separate annual amiling for the eligibles not deferring.

Sungard's synopsis of the changes "The IRS has just released the 2010 Form 5500-EZ and its corresponding instructions. The new form is essentially identical to the 2009 form, except the 2009 form had only 6 boxes for characteristic codes while the new form has 10 sets. Read our Technical Update." Why on earth was this thing delayed for months if that was the only change???

What are people doing out there for engagement letters? Are you hiring attorneys? Is there a good engagement letter template out there from someone? We're planning on going full-steam ahead soon, and wanted to see if anyone else had any ideas...

To be clear, if the third corporation does not already have a 401k plan, then it could adopt the main plan as an adopting employer. The other option would be to start its own plan. Not sure which option you were leaning towards.