ACox

Most likely they mean that they have the ability to use all available mutual funds and not just a funds from a particular family (i.e. John Hancock, Fidelity, American Funds, etc.)

You are correct about the fee schedules and notes. We use the fee schedule to create all of the transactions and then individual put a note on each one. The idea of using a dummy or test plan is a good idea as well. It is always interesting to see how Relius handles different situations.

I have always had to post fees separately for each type. I either run into negative balance situations or I cannot post a second fee due to pending trades. Our fees are designated in the notes field of the transaction and then we program our statements with Crystal Reports to classify those fees based on the notes in the transactions.

What kind of fees are you processing? What questions do you have?

We have been having the same discussions and concluded (until further evidence otherwise) to show the revenue amounts being deposited as other income and then the total fees for the Schedule H. It is my understanding that the Schedule C and Schedule H are not required to match. As for the Schedule C, we have decided to list any direct fees paid by the plan assets and any revenue sharing used to offset invoice in box 2d. I have not run into any plans that had excess revenue sharing, but I think that you may want to reallocate to participant accounts so there are not un allocated assets in the plan (i.e. forfeiture, cash, etc). Definately not an expert in this matter, but this is the result of several hours of discussion within our company.

The 12 month period is a rolling 12 month period. So if you sent out the original notice on 8/30/12, the notice is required to be sent out again anytime before 8/29/13. To move to a calander year period for your notices, you would need to send out the notice again before the end of the year, or shortly after the first of the new year, or send out the notices back to back next year. We contemplated sending out the notices again with our 9/30 statments, but decided that it was to soon and to see if the DOL would maybe allow for a special grace period to allow plan sponsors to move their notice deadline to a calander year basis.

Does your Document or Loan Policy allow for refinancing of loans?

Either way is acceptable and there is no reason to amend the 2010 filing.

Assuming that at least 95% of the plan investments are "qualified plan assets" (i.e. held by bank, insurance company, IRA Trustee, mutual funds, etc) and any bonding requirements are met, then the Form 5500-SF can be used. By using the Form 5500-SF you have an audit waiver as no audit is required for the 5500-SF.

I used it several years ago and thought that the service was great. I am not an IT expert, but it was recommended by our IT staff at the time. If you do use this, just make sure that you turn off your monitor at work. Otherwise anyone in the office can walk by and see what you are working on when loggin in remotely.

Hardships can be allowed for costs directly related to purchase of a principal residence (excluding mortgage payments). To me a hardship to build a house would be considered a cost directly related to purchase of principal residence. Provided of course that the principal residence would be reasonably located and not 5 hours away at the beach.

I have seen letters to clients from the IRS using phantom plan id numbers and saying that the Form 5500 was not filed. When explained to the IRS that the plan number on their correspondence is wrong and showing proof the the Form 5500 (proper plan number) was filed timely they usually go away.

It is my understanding that although the 2010 Forms are now available, the IRS is still accepting the 2010 data filed on a 2009 form.

There are many steps in the process and the new TPA should guide you through each of the steps.

I am not sure that this is possible. I think you may need to use the DB viewer and a SQL script to accomplish these type changes.