pkfountain

Definitely a waste of resources. The client's CPA talked with the IRS agent - all she wanted was the Form 945. Sounds crazy! Yes they are filing a Form 945 with $00 just to resolve the issue. The unannounced visit bothers me more than the IRS asking for a non required Form 945.

IRS is being REALLY STUPID! Client's office was closed yesterday afternoon. When they returned this am there was a note on their door from the IRS. An agent stopped and wanted to inquire about a Form 945 that they had not filed several years back. Several months ago, the client sent a letter to the IRS in response to their request for a Form 945 and advised that there was $00 withholding and therefore a Form 945 was not required to be filed. The client never heard from the IRS again, UNTIL yesterday's unannounced visit. I again provided the Form 945 instructions to the client where it clearly indicates a Form 945 is not required to be filed if there was no nonpayroll tax liability. The client's CPA advised the client to go ahead and file the Form 945 with $00 just to get the IRS off of their backs. Our shock is that the IRS agent just showed up at the clients office unannounced - no appointment and that the client had no further correspondence subsequent to their letter advising the IRS the Form 945 was not required. SMH !!!

Thank you - I didn't even think about looking there. The original letter dated 9/23/13 was from John Hancock Retirement Plan Services. And yes John Hancock Retirement Plan Services is on the IRS pre-approved list. Really strange - their letter to us as TPA (9/23/13) reads - effective 1/1/14, John Hancock will no longer offer the Prototype Plan document to plan sponsors have not already adopted the document. For Plans that have already adopted the Prototype Plan document, John Hancock will not supply any required amendments and/or other communication material related to the Prototype Plan document.

Anyone have knowledge of whether John Hancock is providing a PPA plan document. We (TPA) have a letter from John Hancock dated Sept 2013 indicating NO and clients will need to make other arrangements. Today I have an email from a John Hancock sales rep to a financial advisor that starts off "restatement sales idea" and discusses the requirement of the PPA document and that most restatements costs between $1,000 - $1,500. He implies that the restatement fee can be avoided by bringing plan over to John Hancock. He says the client would be "saving money by not having to pay the restatement fee". ???

Much thanks for all of the quick responses - the actuary is revising the Schedule SB to "include" the deposit in question on 9/13. He liked the reference we provided to the 2006 Gray Book, in addition to a pile of other references we found relating to this topic. This was the last of our 2012 5500s and Sch SBs to be filed.

we are in the midst this week a discussion with our actuary regarding timely deposit for a db plan. Client provided investment advisor a check (in his hands) on Friday 9/13. Advisor mailed the check to the investment house by fedex standard overnight. Well Fedex screwed up and did not deliver the package with the check until 9/17. Investment statement shows contribution received, traded and settled on 9/17. We have copy of Fedex receipt showing pickup and delivery. Is there any documentation/reference that you can provide which supports the fedex receipt of pick/delivery is adequate proof of deposit for Item 19 on Schedule SB? Thanks,