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.

From my understanding of the regulations, the 1099-R code would be a G for both distributions. For the SHNEC you would enter the gross distribution amount in box 1 as well as the taxible amount in box 2. Normally for a direct rollover the taxable amount would be zero, but since it is going to a ROTH IRA it would be the gross amount of the distribution.

On face value I would have concerns with using a year old expense for a hardship request. With that being said, I personally have received Dr. and Hospital bills (for the first time) almost 1 year after the treatment. I am not sure what happened in the billing department for those parties, but it was like they forgot about the service for 1 year. Make sure you are looking at the date of the bill and not necessarily the date of the service.

masteff is correct, that the 50% of account balance is only used at the time that the loan is granted. Provided that the participant in this scenario does not have any earnings in their deferral account, they would be eligible to take out the $12k balance provided they can support the financial hardship requirements for the full $12K amount requested.

I was finally able to get this plan to validate without the schema error. I am not sure exactly what was causing the error, but I deleted all of the attachments and reattached them to the Form 5500. I then deleted and re-typed all of the fields for plan sponsor and plan name on all of the schedules. This allowed for the plan to be successfully submitted to the DOL. I am still at a loss as to what caused the error, but it was fixed somewhere in my retyping of the information.

All three attachments are scanned copies of the documents and all are in .pdf format.

We are using Relius WebClient to upload our Form 5500's and attachments to our clients. When they are clicking on E-File they receive a message that there is a schema error and that their filing will be rejected. There are no other notes/warnings associated with this plan and nothing in the help menu on schema. Is anyone else receiving this error? Any ideas on what may cause the error?

We have been having an issue with the client receiving an email with their user id and notifying them of the availability of the Forms, but we cannot see them in the client listing to be able to send them their password. I submitted an incident with Sungard on 6/23 and I have not received a response from them.

We have had this same argument at our office and we have arrive at the conclusion that if the participant is still working they are allowed to take the rollover distribution since they could defer the payments to a later date. If the participant is terminated, we are requiring them to take the RMD first before rolling the money into an IRA. While they can defer receipt of the RMD until April 1, 2011, the calculation is still based on the 12/31/09 account balance. If the money was rolled over into an IRA, the 12/31/09 account balance for the IRA would have been zero. Not sure this is right or wrong, but this is the way that we handle these situations.

We are allowing our clients to file, so after they have signed and filed their Form 5500 we are instructing them to click "finished." We will then pull the Form back from WebClient into Gov't Forms software.

He should not receive more than 4% of his comp for matching contribution. The payroll is either not limiting the comp correctly, or they may be trying to match catch up contributions