BG5150

Just file an amended return.

Just blame it on BG5150. My wife does...

I would ask the document provider to weigh in. Some documents are purposely vague and allow a wide window of interpretation. I am not comfortable allocating different rates of match on a discretionary basis. To me, "discretionary match" means it will be made year to year at the Employer's discretion, and that the formula each year is also at the discretion of the ER. But it's either a uniform match or tiered. Not a grouping method similar to profit sharing.

Can you tell me what section of the act that's from? It's relative to my interests at the moment...

Where on the 8955-SSA convey to the IRS the plan has been terminated? If you are THAT concerned, file a form with EVERYONE who took a final distribution in 2021 listed as code D.

Does "discretionary match" mean I can give everyone a different rate of match as long as it passes testing? Or that the match formula that applies to the entire plan is at my discretion?

His profit sharing can be $38,000 (63,500 - 25,500). This will result in $19k "regular" deferrals,$ 6,500 catch-up. Add $38k in PS, and you are at the max of $63.5k. (As long as the income allows it) $37,000 can be allocated to the wife, as long as the income allows it. Pro-rata doesn't matter since the first owner is at 415 max.

The question is: why were you working on the Sunday of a holiday weekend at 11 AM (EDT)?

402(f) section is titled: (f) Written explanation to recipients of distributions eligible for rollover treatment (underline added) Do you give 402(f) notices for testing refunds, too?

Thanks. That is what my understanding is, too. Church Plans have their own lane on the 403(b) highway.

I just saw that this morning. It's what prompted my inquiry. So, unlike a "regular" 403(b) that makes a match and is thus subject to ERISA and its reporting requirements, if it's a Church Plan that is making the match, they still must overtly elect to be covered and then, and only then, file a 5500?

Nonelecting Church plan offers a match. Does that make them subject to Title I now? And do they have to file 5500s? Fact pattern: Nonelecting church plan, never sent written statement to be covered under ERISA. But they have been filing 5500s (for whatever reason). We took it over, and told them they might not have to file. But they said they did because they offer a match. Is that true for Church plans (as opposed to a "regular" non-ERISA 403(b) Plan)?

That is my understanding.

Unless you are using Early Participation rule for the ADP test. It allows you to test an OEX HCE with the nonexcludables instead. The rule is only for ADP/ACP and NOT coverage. Tom posted this clip a few years ago: (emphasis mine) from (A) Pursuant to section 401(k)(3)(F), the ADP test is performed under the plan (determined without regard to disaggregation under § 1.410(b)-7©(3)), using the ADP for all eligible HCEs for the plan year and the ADP of eligible NHCEs for the applicable year, disregarding all NHCEs who have not met the minimum age and service requirements of section 410(a)(1)(A); or (B) Pursuant to § 1.401(k)-1(b)(4), the plan is disaggregated into separate plans and the ADP test is performed separately for all eligible employees who have completed the minimum age and service requirements of section 410(a)(1)(A) and for all eligible employees who have not completed the minimum age and service requirements of section 410(a)(1)(A).) item A is a special rule that says "Ignore otherwise excludable rule for HCEs

How could this person be in the otherwise excludable group in the first place? Even using the 18-month rule, they would come into the plan in September of 2020. (Assuming they worked the requisite # of hours and are over age 21) Side note: Using the early participation rule, an HCE who has not met the 21/1 threshold can be included in the non-excludable group for ADP/ACP. But only for those testst; they are still OEX for coverage and other tests.

Or plain ol' 5500 + attachments if the assets are not in 100% qualifying vehicles.

SF

And dang it! You started talking about a lot of e-mails. I usually don't get many. Maybe a dozen or two in a day. But between 3:05 and 3:15 PM today, I received 19 e-mails! 17 of them directly work-related. You jinxed me!

Rules, rules, rules. Create rules. Have the rules delete the crap that comes every day that you don't use. I delete everything with "NIPA" in the title. Shuffle all the crap into folders. I send all my [insert R/K name here] daily (even on weekends!) emails to a folder and delete them all every so often. I get an e-mail for every voicemail with an audio file of the message. I use a rule to send all those to a file. Anything to get the less imperative items off my main screen.

Do you use the Clean Up folder utility? (If you are using Outlook)

I'm not sure if it is an error or a warning if you try to file a final 5500 with assets still in the plan...

Might not be the most cost-effective to you, but I got two of my former positions via a recruiter.

I'd be concerned why a 1099-R was not issued. Are you sure it wasn't merely defaulted and not deemed? The term 'deemed distribution' implies the participant received proceeds and should be taxed on them.

Did you ask the document provider?

Candlesticks always makes a nice gift.