RayJJohnsonJr

You got me thinking and I found this PLR. I think it says the IRA left to estate can be rolled by surviving spouse to IRA. No income tax due. Anybody got time to check it out? Its only 4 pages. Thanks IRS PLR 201931006 IRA Payable to Estate can be rolled over by surviving spouse to new IRA.pdf

I know I saw something that allowed it about 2017 but cannot find it anywhere.

OK, I left a message

Recently deceased Age 75 IRA owner named estate as beneficiary, is there a way his wife can roll it to her IRA? The wife is the sole heir in the deceased's will. The death claim has not been paid to the estate yet, just waiting on a few documents. Thank you. Ray

I just got to the bottom of who I'm dealing with: A ABC insurance co, representative with 1 year of experience in the financial services industry.

Thank you, Austin.

Great advice from all of you. Thank you.

I like the points you are all making. They give me two ideas. 1) have the new TPA copy me on the new document prior to execution and I can list the changes they are making so they can avoid violation of 411 cutback provisions and be able to provide necessary Notification(s) to all employees of Plan changes. 2) I could provide a list of the elections made in the Adoption Agreement and if the new TPA had questions, I could answer them. Open a dialogue with the new TPA.

Ordinarily I'm cooperative, too. This case is different because: 1) I'm also the advisor and this group undercut me and they have no idea what they're doing. He called me obtain records, when I asked who the TPA is he didn't know what a TPA was. Never heard of it. He says anyway, the the plan sponsors administer it themselves and said they file the 5500's. Of course we prepare the 5500's. These are Dr. Offices, they have no idea what a 5500 is. It's 4 companies and I charge only $1,500/yr for Admin because I'm also the advisor. I saved them a ton by using a common trust and worked out where they only have to file 2 5500's. I don't want to give these people my trade secrets. I told him to pass GO and find a TPA right away as in now! Even if doesn't know what one is. His whole selling point was that he's local in AL and I'm in FL. Well I go every there year, put on employee education meetings, and meet with every employee who wants to privately, which is almost everybody. I'm there 2 days. So, yeah, I'm a little miffed and not enthusiastic about teaching my competitor what it's taken me 35 years to learn. So, the advisor who knows nothing tells me I'm required to give him the document as if it's a regulation. Like someone said, the plan sponsor has it.

Am I required to give a new TPA who is replacing me a copy of the Plan Document?

Thanks all. I've gotten the answer I need from you.

Thank you all, I appreciate your time.

Assuming the DB allows it, Can a 401(k) or PS account be rolled over to a regular DB or a 412(e)(3) and the funds remain segregated? I'm particularly concerned with the rollover to a 412(e)(3).

Does a 412(e)(3) Plan get an extension to 12/31/20 to make a 2019 Plan contribution, and, if so, does the Plan have to file a 5500 by 10/15 not showing the contribution or is it extended also. Thanks all.

How many participants?

Does a DB Plan with 10/31/19 YE get the extension?

Thank you, CuseFan. It was the SB I meant. I was looking for the new guidance you mentioned.

What is the current status of the extended Define Benefit contribution for Plan Year 2019?

I'm sorry. I'm just a bad typist and typing all caps simplifies it for me. I didn't think any one would think I was yelling, based on the content. I guess i should go to all lower case from now on including benefits link.

WE COULD SAFELY USE RETIREMENT AGE ANYWHERE BETWEEN 70 AND 75. WHATEVER GIVES THE BIGGEST DEDUCTION. AFTER WE IMPLEMENT YOUR RECOMMENDATIONS FOR HER DC PLAN, WHAT IS THE MAX SHE CAN PUT THERE. IT SOUNDS LIKE THE MAX 401(k) LIMIT, BUT NOTHING MORE. THANK YOU FOR YOUR HELP.

I HAVE A CLIENT WHO'S A SELF EMPLOYED ATTORNEY, SCHEDULE C FILER, AGE 65, AVERAGE ANNUAL COMP OF $700,000 (NET SCHEDULE C). SHE MAXES OUT HER DC EVERY YEAR AND WANTS TO CONTINUE DOING THAT. STARTING THIS YEAR, HOW MUCH CAN SHE PUT INTO A DB ON TOP OF THE DC? iF ANY. tHANK YOU.

You are correct. A might not want any liability risk that might come with taking over B's Plan.

Thanks Bill. Fortunately, on this plan only employees make contributions, employer has never put in a dollar and was never intended to. So we have no vesting issues because everybody's 100% vested. I noticed your in Mandeville. I grew up in New Orleans and graduated from St. Paul's in Covington. My son, daughter-in-law, and grandchildren live in Covington now. My brother is tax partner with Ericksen, Krentel CPAs on Canal Street. But I just noticed they have an office in Mandeville now to. They could be good prospects. Thanks again Bill.

David, Corporation A wishes to keep the plan and expanded to include Corporation A's employees. Bill, thank you that, sounds pretty simple. I need to complicate my question a little. If A bought B in an asset sale, is A allowed to assume the plan if it wants too? In the same fashion Bill describes? And/or, could we make A and B a controlled group or an affiliated service group just long enough that A needs to be a plan sponsor, or the plan has to cover A's employees because of the control group situation? It would save so much time and money to avoid having to terminate B's Plan, install a plan for a that mirrors the terminated B plan for A, and all the employees of B, having to do distribution election forms and all that inconveniences that go with that, not to mention employees can be easily confused by all the changes they don't understand.

Larry, FYI, most people still use the term 412(i) even though we all know it's changed to 412(e(3). CPA's call me all the time and still say 412(i). They know it's (e)(3). But I do respect your attention to accuracy and maybe I should make the CPA say 412(e)(3). I wonder what architects call thresholds now, when they haven't held back any thrash for 100 years. Anywho, the only company I have found that does 412 E threes that's not an insurance company is Pentegra. I was trying to avoid an insurance company because they will require the use of their products and I wanted to choose products for myself. Thanks again Larry and Ernie for your input and your time.