BG5150

Give her a list of all the people who cased out in the plan term and tell her to contact them for 45 cents each, the portion they got of her forfeited money...

i think so.

Did the original DL include the EGTRRA good-faith and 401(a)9 provisions?

Did the financial institution give a 402(f) notice? Going forward, I would inform the trustee that a Notice MUST be given, and since nobody can really monitor all the financial institutions with which the participants invest, it's best the requests come throguh your office. BTW, the penalty for not providing the Notice is $100 per incident (up to $50,000 in a year.) http://www.irs.gov/irm/part4/irm_04-071-018.html#d0e1092

If the plan has fail-safe language, I don't think an amendment would be needed. He would have come in per the document. I thought those situations were only for the year(s) in question, and that the eligibility doesn't carry over.

How do you know where to find stuff like that?

I think it's a-flappin' again...

This is just a side note: The $70 account. Is that all there ever was? Or was there a total distribution of something larger and this was just a trailing contribution or dividends or something along those lines. I usually don't charge the second time around for the small stuff. Especially if I can use the previous paperwork and don't have to send out a subsequent tax notice.

Which professional titles do you put after your name on your business correspondence? Hopefully, by the end of the year I will have: QKA QPA CPC ERPA Now, that's a handful to place on a signature line. For example, this looks a bit cumbersome: Jim McGillicutty, QKA, QPA, CPC, ERPA So, which ones do you put?

That would be a heckuva commute from Poland!

Why would it become an IDP?

:rimshot:

Use Schedule H, tax due under Section 4979. Amount involved is BEFORE allocable income.

Yep

Participant has money in 401(k), Safe Harbor, Profit Sharing and funds transferred from a money purchase plan. Trying to figure out maximum hardship availability. Can the MP Transfer money be taken? I know MP transfers retain the J&S provisions. But can they be taken for hardships?

Plan has $20,000 in forfeitures and the plan calls for them to be reallocated or used for fees (not allowed to offset ER contrib). I do my work for the year, send them a letter saying this is how you reallocate the $20k. I also include my invoice for, say $2,500 (made-up number). Should I have only sent a schedule that reallocated $17,500?

So, the sponsor can't pay the fees? It has to come out of forfs?

Most everything is taxable int he year of distribution now except 402(g) before April, right?

Then why ask it again?

I would say just reissue the check and move on if there is ample evidence the funds were sold prior to March 15. I look at it this way: what if someone took a distribution on December 27, 2012 check issued December 28, 2012. The 1099 will say 2012. If the check gets lost and not reissued until February, the 1099 will still say 2012 even though the check that eventually gets cashed is dated and executed in 2013.

Anyone over 70 1/2 who has "retired" must take an RMD. 5% owner or not.

They don't even HAVE to withhold if the person doesn't want it.

Wait. Just re-read the OP. It says "an employee non 5% owner)". Is this person still with the company? If so, I think they CAN roll the money to an IRA w/out the RMD, because, as yet, none is due. (from the plan)

My take on it is that an RMD is due from the plan before the RBD for year a participant retires. Period. Qualified plans cannot be aggregated like IRAs for RMD purposes. So a person can't simply roll the proceeds to an IRA and move the RMD out of there.

From the EFAST2 FAQ: