Beemer

What would be the due date for the Form 8955-SSA for a June 30 year end plan? There will be participants reportable for 2009 and 2010. Is the due date for 2009 January 17, 2012 or is it the due date of the 2010 return? I see conflicting information out there. Thanks for any input.

The attorney at the bank says that the agreement is silent on the pledging/collateral issue. The attorney also said this was a taxable event.

According to the IRS Nonqualifed Deferred Compensation Audit Techniques Guide (02-2005), "For example, the employee may borrow, transfer, or use the amounts as collateral, or there may be some other signs of ownership exercisable by the employee, which sould result in current taxation for the employee"

The client's information came from the bank. The bank told them they could have the loan, but their 409a would be taxable.

A client wants to use their 409a plan as collateral for a personal loan. This would create a taxable distribution, correct? Thanks for any help.

Has anyone seen any quidance on which participants are required to be reported on the Form 8955-SSA for 403(b) plans? Should I report A) 2008 and later terminations B) 2005 and later terminations C) All terminated participants with vested balances, as they have not been reported yet? Thanks for any responses.

We are planning on all paper filings this year. (The software does not give an error message for Yes, No, or leaving it blank.)

I am preparing a Form 8955-SSA with only 1 participant to report. This participant terminated in 2002 and was paid in 2009 so they will be a Code D. If the participant counts on line 6 are 0, do I need to answer question 8 regarding individual statements?

It looks now like the employer is going to be comfortable implementing this. Thanks everyone for your input.

I think they just want the employees to pay for it.

A client wants to require their two employees to make pre-tax contributions for medical benefits. They don't want to give them a cash or deferral election, but they would have to take the payroll deduction. I don't believe this would count as a cafeteria plan because they couldn't take the cash, but can they require the pre-tax contribution from the employees? Thanks

Are there any good resources with guidance on preparing the multiemployer plan summary? Thanks

The custodian is telling us that they will give us a letter, stating that they will sign as Custodian after the successful VCP submission, but they can only act as Custodian for assets held there, and there are plan assets held elsewhere.

The name of the custodian is preprinted on the adoption agreement, so only they can be custodian for their own adoption agreement (although they won't sign it yet). We are considering asking for a letter from the custodian stating that they would sign as custodian, after the successful VCP submission. We would attach the letter to the VCP submission. I don't know if they will be willing to do this yet.

On the adoption agreement, by the Custodian signature line, is the phrase "Both a Custodian and Trustee must be appointed for the Plan".

A client has a plan that is filing under VCP due to untimely amending for PPA & EGTRRA. The trustee has signed the adoption agreement, but the custodian will not sign until after a successful VCP submission. Will filing under VCP without the custodian signature be a problem? Thanks for any responses.

A client held onto their 401k contributions from January through June 2010 and did not deposit the contributions until December 2010. The year ends June 30 and the Form 5330 was due January 31st, 2011, but will be late now. I am preparing two 5330's. On the first one, should I show interest up to June 30, 2010, and on the second return, show interest as on the first return, with another ltransaction for interest until the final correction? Thanks for any help.

If fewer than 50% of eligible employees make elective deferrals, and all of the elective deferrals are disallowed, do the elective deferrals count against the annual addition limitation? Thanks

Ok, thanks. That agrees with what I just found on the Sungard/Relius site, dated 12/2/10.

How would you show this on a 1099r? Would you use the same code as if it were a cash distribution?

What is the deceased participant's life expectancy is longer that the spouse's life expectancy?

I have a participant who died in 2005. He was born in 1932 and his wife in 1930. His remaining life expentancy (minus 1 year each year) is now less than the spouse's recalculated life expectancy. Can I switch over now to the Single LIfe Table to calculate the minimum she needs to take this year? Thanks

Does anyone use Fort William for participant recordkeeping as well as 5500's and do you like Fort William for both?

You are right. The DOL got back to me faster than Relius. However, their response was to "tell your software provider about the problem".

I had an error (b-614SB) when submitting a defined benefit plan, I made a support call to relius (no answer yet), but when I look again, I don't see the error.