WDIK

Although the Form 1024 does not currently appear on the "Forms and Publications" list, other pages of the IRS website do link to form and instructions. In each of those instances, the link is to the 1998 revision to which you refer. If there is a newer version, it is not apparent. If you are still uncomfortable, it may be worthwhile to call the IRS for clarification.

http://benefitslink.com/boards/index.php?showtopic=29666

http://benefitslink.com/boards/index.php?showtopic=29744 ******

An excerpt from 1.414(v)-1(a)(1) states: "With respect to an applicable employer plan, catch-up contributions are elective deferrals made by a catch-up eligible participant that exceed any of the applicable limits set forth in paragraph (b) of this section and that are treated under the applicable employer plan as catch-up contributions..." The ADP limit is one of the applicable limits. If your plan document treats them as such, it seems to me that the determination is made irrespective of the "correction period."

According to IRS Publication 590, the contribution limit to a Roth IRA for 2005 is the lesser of: $4,000; or your taxable compensation for the year.

A couple of prior discussions: http://benefitslink.com/boards/index.php?showtopic=24743 http://benefitslink.com/boards/index.php?showtopic=25575

The filing fee for approval to become a nonbank trustee is $3,665 according to Revenue Procedure 2005-8.

The U.S. Small Business Administration website has a link to a "Handbook for Small Business" that contains the following excerpt: If one asks either the IRS or a state department of revenue for a definition of casual labor none will be forthcoming. This means that the IRS and other agencies do not recognize the term and will not define it. www.sba.gov/library/pubs/mp-31.pdf The handbook also offers a caveat: Although this publication has been prepared by competent, knowledgeable and experienced contributors, it should not be used as a substitute for professional or other authentic sources in specific situations. As pointed out repeatedly in the book, legal or other expert assistance should be sought when required.

Acronyms are so overrated!

In many instances, it is used to describe independent contractors.

I would include such a person in the participant count.

Touché.

I think I understand where you are coming from. So the question seems to be, "Does a two-week period for processing a loan/distribution satisfy the 'reasonable time' clause of the document, or does it create a blackout period for which a notice is required?"

I don't mean to seem obtuse, but I only see one question in the initial post.

Are distributions and loans being suspended? I interpreted the original post to mean that all loans and distributions would still be processed within the allowable plan timeframe.

If the change in registration is unnecessary, then there seems to be no reason to incur the charge. However, if you are of the opinion that the change is prudent, another way of looking at the registration fee is that it is part of the total cost to complete the rollover/distribution. It seems likely that the doctor's total benefit is substanial and that $150 would be a small percentage. (Please don't shake me violently. I already have neck and back pain.)

Not to be redudant, but... I don't think 1.404(a)-13 makes any reference to such an adjustment.

I'm sure we can all sympathize with the doctor. (By the way, this response was not intended to be basically bland nor candidly critical.)

I don't think 1.404(a)-13 makes any reference to such an adjustment, rather it states, in part, the following: "The limitations under section 404(a)(7) for any taxable year of the employer are based on the compensation otherwise paid or accrued during the year by the employer to all employees who, in such year, are beneficiaries of the funds accumulated under one or more of the overlapping trusts or plans."

If the assets are significant enough, would a new carrier be willing to negotiate maintenance, management or account opening fees to help offset the exit fees?

It seems to me that in either case (rollover to IRA or taxable distribution) that the issuing company would need to change the registration, although they may charge $100 to $150 to do so.

I think all previous posters agree that there is.

The following discussion may be of some help. http://benefitslink.com/boards/index.php?showtopic=29430