K-t-F

sounds to me like it is that new math... "IRS math".... they dont consider "0" to be a number there, but then 0/0 = 100% which I guess is 100% of nothing

I dont see C/D if Mr. D is over 21. R. Butler... why is mom 100% owner of ABC? (at most)

Thanks.... I will do a search.

Who has? Is it a good idea? Necessity? Where to get it?

Thats why I ask these questions... and why this forum is so valuable. Thanks for the insight.

The allocation of the contribution would be skewed towards the older participants on the premise that they have less time to fund for retirement. Standard eligiblity ( 21/1 , year of service is 1000 hours)

Existing age weighted plan... wants to allow deferrals. Since all the EEs are 100% vested already, would the age weighted contribution count as the 3% SH to pass SH requirements? or would an additional 3% need to be added in addition to the age weighted allocation?

I thought it was a controlled group... wanted to post to see if anyone would come up with a reason why it wasn't.

I intend to get the book.... Not a hardship. Simply a participant in a PS plan that wants to take an in-service distribution. In this case the 10% will apply I am sure. Found my answer... Thanks!

Client wants to take an in-service distribution. Doc says as long as the participant has 60 months of participation it is allowable. What are the taxes? 20% withholding (Minimum), 10% excise (EE is 57)... am I missing anything? Tks!

Let me change this and see what people think.... Company A: Dave 100% owner has 3 EEs Company B: Dave 49% owner Dave's wife 51% owner - Dave considered 100% owner, attribution Dave and wife only EEs These 2 companies are not an Affiliated Service Group, have nothing to do with each other, do not do business with each other, separate locations... Client would like to (ideally) put in a SH for Company A and a Solo for company B. Obviously max out Company B Comments?

NO... sorry... he is over 21. Thanks Blinky

he is... Thanks

2 businesses, A and B Company A: Dave 50% owner Dave's dad 50% owner Company B: Dave 49% owner Dave's wife 51% owner - Dave considered 100% owner, attribution Controlled group? I dont think so (hashes out with someone), comments welcome Company A is going to put in place a Simple (has other EEs). Can Company B establish a Solo 401 for Dave and his wife (no other EEs)?

Any reason why an employer, who hires one part time EE to perform bookeeping with annual hours less than 1000, can't have a profit sharing plan and only cover himself?

Click .. HERE for the answer to your question

I am new to Datair... like is so far. People are quick to respond to questions...problems. Good value

Mine is not a Doc either... rather a local media personality. He was ill with a serious disease and faded away for a few years. His Personal Corporation was disolved but the plan still remains. No contributions since 2000 I think... maybe earlier. I have yet to talk to the CPA to find out more info.

Huh... (long pause).... Unfortunately the client (as many of them are) was oblivious to what was required. Ignorance is no excuse, but clients like this one rely so heavily on the CPA or attorny to guide them they assume all is well when nothing is said... the "no news is good news" scenario. Sheesh... what a spot. So what most are saying is that the TSL works for a new plan that has not filed ever, but in the case where a client is lost in a shuffle he is screwed? (can I say that here?) Anyone know a good agent I can send this to their attention?

Ironically I received a call from a client that left in '99 and now tells me he hasn't filed since. He has a July year end so now we are looking at '00, '01, '02, and '03. Is what I am reading, the way to tackle this is to file all 4 years at once with the infamous "TSL" (Tear-Stained Letter), not file them individually?

The letter that I create to solicit a new potential client will need to be approved by the MA state insurance commision, NASD, and possibly the SEC? Is this just in MA? So what I should do is tell the CFP that is going in on this venture with me to have their broker/dealer provide an approved letter? Or is what you are saying is that only the CFP's part and how the client is solicited for the purpose of selling investments is regulated.... for my part as the TPA (non producing) am I also regulated? I guess if we produce a letter together it would need to be approved since the CFPs services would be on sale in addition to my services.... if I did it on my own (solicit MY services) it would then not need approval.

Does the total value of the plan have to be part of the SAR? Small client, 5 EEs, 3 family and 2 non related. Plan has $1mil plus with $150k split between the non related EEs. Plan sponsor is concerned that they will do the math and see what the owner etc have. Says it is a company breaker.... If the total value of the plan isn't disclosed then he feels it will be fine.... Can that be omitted?

Oh ok... Meant nothing by the post... and can see how some would feel that their clients would be in jeopardy... if they were not secure with thier relationship. The database is Larkspur and my access is through a CFP that wants to go after local plans in Massachusetts. I will create one of my own... I guess I am still learning what to ask here.

I have access to a database and intend to prospect some plans..... Anyone have a good prospecting letter, advice about how I should go at this task? Thanks!

Someone simply please confirm... If the one who reached 70.5 is a 5% owner ( and of course wife is 5% as well by attribution ) there is no delaying the RMD... correct?