BG5150

Me? No. DB plans are far from my bailiwick.

Ah. my bad

I think you would be ok. This is assuming all HCE/NHCE shown are benefiting for the year. For 401(k) I get: (227/227) / (53/53) = 1.00 or 100% For Match I get: (54/277) / (0/53) = N/A test passes, no HCEs For PS I get: (173/227) / (53/53) = 0.762 or 76.2%

Did you ask the actuary his or her basis for not including them?

Remember, there are two distinct and separate HCE tests. You add the results together. 1) Ownership test: 5% owners and those attributed ownership. THEN 2) Compensation test. 2a) Flat HCE compensation limit test. Everyone who made more than the applicable HCE compensation limit is an HCE --or-- 2b) Top Paid group. Everyone in the top fifth of total compensation (that is over the HCE limit) is an HCE. Anyone who is in either or both of the tests is an HCE.

The plan we deal with says that if an account is not paid out 5 years after it becomes payable because the participant cannot be located, the account will be forfeited. (As long as the administrator sent a registered letter with return receipt to the last know address) It's a Volume Submitter plan, so that provision has the IRS blessing, at least.

This is what we do.

Who uses a mouse with a trackball any more?

And then send a support ticket to the program vendor to see why it's calculating that way.

Indeed.

It doesn't make sense to include someone BOY if they are (re)hired sometime later. I would make sure your census data is correct in the program. If there was no termination date entered, maybe the program thinks the person was still "employed" on 1/1.

Also, make sure you check the SH Match basis. Is it payroll based or annual? If it is payroll based, then the SH Match is due by the end of the quarter following the basis period. (Many propel forget that little SH nugget.)

Jim, is the plan a pooled account, or are there individually-directed accounts? (or a mix of the two?) Is this a one-person plan? (i'm guessing not, if there is a couple hundred grand of PS!) If they are individually-directed accounts, all participants must be allowed to invest. If it's a pooled account, I think it could be done, however, the Trustee needs to make sure the investment is prudent for the plan and its participants.

Gold isn't the only precious metal.

Plus, ETF's wouldn't be subject to the bonding issue if more than 5% was put into metals. What kind of plan is this? Title says 401(k), post mentioned profit sharing. Are there individual accounts, or a pooled account? Are there other participants? You mentioned "his" profit sharing account. Would others be allowed to invest also? Are the accounts in individual brokerage accounts? If not, does the plan allow for them?

We also filed our 5558's earlier than in the past this year. We think we will continue this process. We do have some sensitive clients who refuse to go on extension, and we waited until the last minute if need be.

Does anyone ever comment? Just curious.

Automatic extension is when the company's taxes are on extension. Special extensions happen in cases like hurricane Katrina.

Is the business closing? Could you open up a qualified replacement plan with the excess assets?

So, what if your wages are at the minimum level? Your paycheck will be below that. If I make $6/hr, I may net $5 after taxes.

It's still up to the Named Fiduciary to monitor the delegates.

I've filed an all-zeroes 5500 in years past (but with a participant count) and haven't had any questions. Yet.

To me, this is an administration issue. Just amend the loan program to read something like: Loan payments will be deducted from each regular paycheck. For those participants who do no receive a regular paycheck, other arrangements will be made, but in all cases payments will be made in accordance with the amortization schedule for the loan. Just think. How would you treat someone who only received commissions at irregular intrevals as the only compensation? Will you tell them they can't take a loan unless they get a paycheck every week?

I thought you couldn't use forfeitures to offset a QNEC.

I think you can just have the semi-annual dates and a one-time special entry date. No amending necessary,.