BG5150

How do you justify that if there is no profit sharing feature currently available?

From ERISA Outline Book (Chapter 3A: Accruing Benefits - Section II (Defined contribution plans): Part D.2.e. (401(k) plans: automatic enrollment): (spacing mine) It seems as though the notice can be given when they sign up. And if desired, the plan can wait 30 days to implement it if it's not an EACA or QACA.

It's working for me know. As it so happened, I reset my browser, so maybe it was something in the cookie(s).

This is not working for me today. Anyone else?

I don't think #1 is an option any more. The filing will fail without the auditor's opinion.

And you may also have the burden of someone actually wanting to take advantage of the after-tax feature....

That was my thought...

Did anyone ever answer "No" to question 8, did the sponsor provide an individual statement? What are the ramifications?

The date the person becomes a participant. The other dates are merely administrative procedures. (And item #3 better not be after the first payroll date after #1.)

I have a few plans that do not offer a Profit Sharing option. I do not put 2E on the 5500.

What about "safe harbor"? Safe Harbor nonelective, match, hardship reasons, profit sharing allocations, timing for deposits, DB accrual methods...

Nothing get reported until the money leaves the trust. It then gets reported on a 1099-R for the participant for the year of distribution.

If there can be no contributions to the new place, can there at least be contributions to the old place in the meantime? If not, is the trustee acting in the best interests of the participants by having this gap?

I'm with ESOP Guy. Put them on this year's form and move on.

What's the account balance? Like $400? Why doesn't he or she just take the whole thing? Or roll it into an IRA and it will be combined with the rest of the IRA money, if any, for RMD purposes.

To me: Hired on July 1, anniversary date June 30, enter next entry date which (in this case) is July 1. Hired on July 2, anniversary date July 1, enter on next...check plan doc for when this person enters. Is it "next" or "next or coincident with." That matters a lot.

The plan document may have the remedy.

How long ago was it? Is it possible to reamortize it to fit into 5 years?

Did you check with your document provider?

I don't think so. But you can start a Profit Sharing Plan with no 401(k) feature for 1/1. Then add the 401(k) and SH features on 2/4. If there is no k feature in a plan, you can add it and a SH as long as there is at least 3 months left in the plan year.

Yep.

On January 4, who was able to make financial transactions on the funds? Trustee/Administrator for A or B?

[discussion of specific problems] With all due respect, there is a clear pattern of late, missing and incorrect information. Therefore, effective immediately, we are resigning as your pension service provider. You are an idiot and a jerk.* [More discussion of suggestions - in this case, some of the problems were due to distribution and withholding problems b/c they were using a pooled account, and I suggested they go to a turn-key provider who would handle that stuff in their system.] Our sincere best wishes to you and your business. *Just kidding on this! But I thought it... Add a PS: C'ya. Wouldn't want to be ya!

If a participant pays the distribution back after the close of the tax year, does that create basis in the account, with only earnings on the returned amount subject to tax on subsequent (ostensibly correctly-timed this time) distribution?

I think you are right. Did you submit a ticket to Relius? I find their support to be pretty good. I submit mine right on their site.