Lou S.

They might get reported on both Schedule A and Schedule C depending on what is being reported.

I agree with Larry, talk to a lawyer and soon.

Allowed ACP testing on the after tax voluntary. also subject to 415 limits

She's on the deed right? It would seem the Principal Residence Loan exception to the 5 year rule should apply. What am I missing?

Are they terminated or just on leave? That is are they expect back? If they are expected back I don't see how you can treat them as terminated.

I think Trump fired everybody and there is no one left to publish them.

The DC method for terminating DB Plan is somewhere in the 401(a)(9) regs. I forget the exact cite but it's somewhere in the DB Q&As if i remember right. Is this for an upcoming issue? That is he's considering terminating the Plan in 2019 and his RBD is 4/1/19?

Money purchase plan you have a funding deficiency each year it isn't cured I believe and need to carry it "forever" until cured. As to a receivable match, I would assume if you aren't correcting through EPCRS you would reverse it and file an amended Form 5500 for the year it was included but not made. Discretionary/Fixed might have some implications about qualifications issues.

How about the ERISA code? And what you can and can not exclude. It's pretty much black letter law. See §1053(b) in the attached link https://www.law.cornell.edu/uscode/text/29/1053

Can you log on to the PBGC site and download the Confirmation number? It should be in the account history. And if the plan if covered by the PBGC it begs the questions, why wasn't a filing done? Anyway good luck. As Bri suggests maybe try an all 0s or all 9s number just to get it filed and file an amended return when you get the number. Not the best idea but possibly a work around.

https://www.irs.gov/newsroom/irs-extends-upcoming-deadlines-provides-tax-relief-for-victims-of-hurricane-florence I could be wrong but I read this that those in the disaster area would not be subject to the exicse tax as long as the deposit was made by 9/24.

Bumping this in case anything new thing has come up in the last year. We have sole proprietor who had a $0 RMC so no contribution was made by 9/15/18. However now that his CPA has completed his Schedule C he might like to make a deductible contribution if possible for 2017. He will have a required contribution for 2018 and his income varies by year. So if possible we would like to have him make a contribution this week which he would deduct on 2017 return but would be reflected on the 2018 schedule B.

Make sure they know about the top heavy minimum for 2019.

I'm assuming this is a calendar year plan. You look at the highest percentage ownership at any point in the year in 2018 to determine HCEs. You are likely going to fail ADP and have to refund all deferrals if you have no NHCEs contributing. Now might all be a good time to see if this plan is going to be top-heavy for 2019 and suggest making it a safe-harbor for next year.

You don't want the re-finance to extend the loan past the original 5 year limit. That violates 72(p).

It is split sort of - 415 is based on the limitation year and the end of year limit is what you look at. So assuming your limitation year is the same as your plan year you would look to the 2018 415(c) limit which is $55,000. 401(a)(17) is based on the limitation in effect at the start of the year so the 2017 limit of $270,000.

There is a good rundown here http://www.napa-net.org/news/technical-competence/case-of-the-week/case-of-the-week-valuing-life-insurance-contracts-distributed-from-a-401k-plan/?mqsc=E3854111&utm_source=WhatCountsEmail&utm_medium=NAPA_Net_ListNapa-Net%20Daily&utm_campaign=2016.10.20%20-%20NAPA%20eNews%20-%20(Thu) The long and short is CSV may or may not accurately reflect the fair market value. See IRS Rev Proc 2005-25. But yes I believe a taxable distribution of the Insurance Policy can satisfy some or all of the RMD. But I thought Insurance Policies couldn't be held after Normal Retirement Age had been met under Incidental Death Benefit Rules but maybe I'm confusing that rule.

The LLC is taxed as a partnership. Presumably he receives a Form K-1 with self-employment income from the LLC (partnership - not sure why it isn't an LLP but that's not my area of expertise). And he is receiving a K-1 with positive self-employment income he has US earned income on which to defer. Then it becomes a question of whether or not an ASG exists. If an ASG does exist and the LLC has adopted on as an additional employer to the Plan, then contributions can be made on his behalf based on those earning and his elections. Now if there is no ASG or the LLC has not adopted the plan, or he has no W-2 wages and no self-employment income, then I don't see how he could be covered by the plan.

If the LLC & Corp are an ASG, and the LLC is an adopter of the plan, and the Canadian citizen has US self-employment income from the LLC, then he could contribute to the plan based on his self-employment earned income.

I had a 2 person plan (husband & wife) that was randomly audited by the IRS many years ago. I think the limits at the time were $50K (415) and $5K (catch-up) bu I may be off on the limits but whatever they were they deferred catch up and made max 415 limit PS. We had them each make $5K deferral and $50K PS. There was no problem on audit supporting it.

You are correct. Non-participants are not eligible for the Top-Heavy Minimum.

As always Read The Document. Does the document allow each division to get a different rate of contribution? If so you will pass testing, if not you are probably violating the terms of the plan document.

Try Code Sections 410(a), 410(b) and the regulations thereunder.

Top heavy doesn't care about the refund as far as I recall. You look at allocation rate of key employee before any refunds.

If you have a loan offset in 2018 due to termination of employment the following should apply. The text below if from the IRS 402(f) Notice.