retbenser

http://benefitslink.com/boards/index.php?s...amp;hl=deadline

I understand the deferral contribution deadline for C-corp is 12/31; for sole-proprietor and partners, deadline is due date of tax return. When is the deadline for deferral "contribution" for S-corp?

No, it is not. Also, all the other shareholders are different individuals.

http://benefitslink.com/modperl/qa.cgi?db=...oyer&id=279 Please see link above. Per the link, the answer is yes?

So it I change 79% to 49%, the answer is yes? Thanks

Husband and wife corporations. Wife owns 100% of dental practice 1 Wife owns 79% of dental practice 2 Husband owns 100% of consulting firm 1 Husband owns 79% of consulting firm 2 Wife and Husband satisfy 1563(e) with no child under 21. Question: does each of the 4 plans have separate 415 limit? Thanks for all responses.

Thanks.

Given: Profit Sharing Plan. Current employees are Owner Husband and Wife. No other employee. However, the parents of the husband worked before but terminated years ago. Account balance of parents are still in the trust account. Question: Is this a one-participant plan? Is this an SF or EZ filing? Thanks for all responses.

Given: Owner elected to receive RMD as 50% J&S . Owner is still working. Owner decides to retire 3 years later at 74. Question: Can owner, at the time of retirement, elect to receive remaining benefits as Lump Sum? Thanks for all responses.

A DB plans has a minimum required contribution, but plan sponsor has no income (Sch C). This is a owner only (1 person) with no employee. What are the options? If the SB shows funding deficiency, is there an excise tax?

Thanks. But is it not the case that the Plan Document must state who is participating (the 40%) and who is not (the 60%)?

A DB plan covers 40% of eligible participants (per 401(a)(26). The plan is combined with a DC plan for nondiscrimination testing purposes. However, the DB plan document does not reflect the fact not every one is benefiting (i.e., only 40% are accruing). This problem occurs for current and prior plan years. Question: To amend the plan, does the plan sponsor have to go through VCP? Or can sponsor amendment without IRS submission? Thanks for all responses.

Yes -- I am comparing the assets to the PV of 415 limits. In the situation I described, the owner (employer) died and the asset is rolled directly to the child's inherited IRA. My question is: is there a "reversion" of asset to the "employer"? If not, do we conclude there is no 50% excise tax? Thanks.

I am talking about the 50% excise tax on reversion on assets. When there is a reversion of excess assets to the employer, there is an excise tax of 50% on the excess assets. In the situation above (where the owner died and the assets rolled directly over to the child's IRA), is there an excise tax (50%)? Is there a "reversion" of asset? Thanks.

Given an overfunded plan - due to contribution = 150% of FT The owner dies and the assets is rolled over to an inherited IRA of a child. Is there an excise tax in this situation? Is there a "reversion of asset"? Thanks for all responses.

Where do we indicate on Form 5500 SF/EZ that the plan is a 412(e)(3) and is exempt for Schedule SB? Thanks for all responses.

If you change the look-back month on line 21(b) -- (1) Do you check YES on Line 24? (If yes, how do you justify?) (2) Do you check YES on line 25? Thanks for all responses.

Got my renewal response yesterday, May 28.

Thanks.

Thanks for all the responses. Here is how I look at the 401(a)(4) issue: The plan cannot pass the ABPT since the ABP% is less than 70%. This happens because the mother has low pay while maximizing her 401(k) deferral. To pass the 401(a)(4), both rate group must therefore pass the 70% ratio test; thereby bypassing the ABPT option. Since the NHCE has accrual rate (normal and mvar) equal or greater than both the HCEs, the ratio test for both rate groups exceed 70%. So 401(a)(4) passes. What about 410(b)? How do you show 401(b) compliance? Do you use the same analysis as above? Thanks.

Thanks. To expand the situation further, given a combined DB/DC plan. Owner and mother in DB. Owner and NHCE in DC Here are the "aggregate" NAR (with and wihtout 401(k) deferral). Owner: 10% (without deferral) 15% (with deferral) Mother: 12% (without) 40% (with) NHCE: 12% (without) 12% (with) Question: does the combined plan pass 410(b)? Thanks for all responses.

There are 3 participants in a DB plan: (1) Owner, (2) mother of owner, and (3) one employee 401(a)(26) requires the plan to benefit the greater of 40% or 2 employees. Question: Can the 2 employees be the Owner and his mother? Question: Is there any farmily attribution problem here? Thanks for all responses.

Has anyone gotten their EA renewal response from the Joint Board? If yes, when did you get it? Has anyone not gotten the response? Thanks.

Do you include life insurance cash value (or cash surrender value) as assets in Form 5500 (e.g. Line 7 of Form 5500-SF)? Thanks for all responses.

Can a CLU or ChFC who assist a plan sponsor on qualified plan contribution and tax-deductibility issues be considered an "Unenrolled Return Preparer" who can act as representative under Form 2848? Thanks for all responses .