hunter001

Instructions read you must check “Yes” if any benefits due under the plan were not timely paid or not paid in full. Would this include mandatory distributions not made timely, what is considered timely and would this be a red flag? Any guidance or interpretation of this would be greatly appreciated.

We have been receiving IRS notices in regards to our client's 2007 and 2008 filing. We receive the correspondence because it is part of our procedure to file the Form 5500 using our address as we are a bank and are appointed trustee of the plan for most of our clients. We have tried to get in contact with our client in order for them to file the forms and respond with a reasonable cause but they have been unresponsive. Now the IRS is wanting them to pay a hefty penalty. Im thinking my next step is to contact the IRS and have them start sending the notices directly to our client. Any suggestions?

Ran into validation errors but installed the SP2 and this cleaned up the errors for Sched I filing plans. We do have the Sched H validation issues and I have a incident submitted to Relius. Getting error that because line 4i is selected there must be an attachment. This is included with the audited financial reports that the accountants prepare and we have always relied on that as the attachment. Also getting the error about Sched A and line 3 on the accountant opinion. We are also very concerned on the validation errors as we will get questions from clients. Not thrilled about the fact that the plan information sheet publishes as part of the form, as this is more an internal worksheet.

We cannot print also, hoping this will be available soon. Updated SAR is still not available. Does anyone know of the release date? This is an IRS issue but Form 8955 SSA not yet released. Talked to IRS last week and they said would be available in the spring, pretty sure its going to be late spring! What process does everyone have for their clients to file this? We are thinking of putting it out on webclient as an "other" attachment and instructing our clients to print, sign, and paper file.

Need to distribute Roth dollars for ADP corrective distribution. Will be distributed beyond the 2 1/2 month deadline. Have always withheld 10% federal for these. Is this required? Not sure if there were any changes to this when the rules changed to be taxable in the year distributed for distributions made prior to the 2 1/2 months.

Having a hard time determining when to file the Schedule R. Instructions read that if Lines 1-8 are NA it should not be filed. So regardless if a plan needs to use the ratio percentage test to prove it satisfies coverage a Schedule R should not be filed? Am I interpreting this right.