DPSRich

I have a few clients that have a 401 (k) and Safe Harbor Match. The principals defer but the "common-law" do not. So they are participants with zero account balance. I tried efiling a 5500-SF showing 2 active participants and 1 with an account balance. FT William rejected the submission and their support group tells me to file an EZ. I am not comfortable doing that. Any suggestions and references will be greatly appreciated. Thanking you in advance. DPSRICH

Thank you very much

Owner age 83, has been taking RMD's since Age 70 1/2. He wants to take a distribution in 2020 in the same amount as would be required if he took an RMD. Question , can he take as an RMD OR must he take as a regular distribution and have the 20% mandatory withholding taken out? Thanking you in advance for any help. Be safe everyone. Richie

Dear NJ Mike: Thank you, that was quite helpful! I appreciate that. My Pension Answer Book does not have that information. Could I PLEASE ask a BIG FAVOR. If you have time, could you please email Q 20.11. My email is DPSRICH@optonline.net Thank you so very much!!! Have a good weekend. Rich

Lou. no triggering event, i.e. Retirement, Disability Death. Just issuance of the QDRO. I presumed if not rolled over then subject to the 20%.

HI: Is 20% Mandatory Withholding required on QDRO's that are NOT Rolled Over to another Qualified Plan or an IRA. Thanks for your help in advance. DPSRich

Thank you everyone, just as thought.

Can an Employer convert an existing Profit Sharing Plan to a Roth Profit Sharing Plan? No 401 (k) deferrals, possibly Profit Sharing contributions. Any help would be appreciated. Thanks DPSRich

Thank you both for your replies. MoJo, extremely Helpful. Enjoy the weekend DPSRich

Participant contacts the DOL stating that they deferred more than the Employer has credited. DOL starts an inquiry, which is handled by the accountant. Accountant claims that DOL has finished the inquiry. DOL has not sent out any correspondence accepting what accountant submitted. Accountant claims that DOL only sends out correspondence when there is an audit, NOT when a Participant makes a claim. Is accountant correct?

Thank you both, very much appreciated. DPSRich

Hi: Wondering if any firms will take Participant's 20% Mandatory withholding amount and electronically transmit the payment in excess of $2,500 to the IRS. Thanks DPSRich

Sorry, you are of course correct about it being IRS NOT DFVC. Thank you for your input, very much appreciated.

Doing a DFVC program for a 1 Participant Defined Benefit Plan. The Corporation is a member of a controlled group as was reported on the last 5500 filed. Since this Plan is a 1 Participant Plan it meets the EZ criteria. When looking at the instructions under Plan Characteristics code 3H is an available answer so I would think an EZ can be filed? Also, any problem switching to an EZ from a full 5500 with Schedules I, R and B? Forms last filed in 2007. Client has been over $250,000 for each year. Thanks for your help and assistance.

Thanks, Tom and Bird. DPSRich

I have a somewhat related situation. Doctor is the only one deferring to 401 (k) $17,500. + $5,500. Catch-up. Safe Harbor Match. No other Employee Deferrals. No Profit Sharing contribution, so doctor is the only Participant with an Account Balance. Three other Participants completed Salary Deferral Election Notices, declining participation in the Plan. Previously in a somewhat similar situation I filed a 5500-SF showing 2 Participants with only 1 with an Account Balance. Plan was audited, I.R.S. made owner give a 3% Top Heavy Minimum to non deferring Participant even though that person also completed a Salary Election Deferral Notice declining participation in Plan. Question- Based on above,would you indicate that Plan had 4 or 1 Participants? If 1, would you file a 5500-SF or 5500-EZ? If an EZ would you file at all since Plan assets only $23,000.67. Any input would be greatly appreciated. Thanks. DPSRich

Situation is Plan terminated in 2010 and final 5500-SF filed for 2011 (January 2012) after supposedly all assets, including insurance contract cash values were distributed. Insurance agent who provided us with the information that everything was paid out, calls us beginning of June and informs us that there was one additional life insurance policy still in force in the name of the Plan. Kicker is the insured is now deceased and there is a $500,000. death benefit to be paid. Questions are: 1- We presume that we have to file an amended 5500-SF for 2011? If so, do we just show the assets as the 12/31/11 cash value or the cash surrender value? 2- If the presumption is correct for 2011, then we would do the same for 2012, using the 12/31/12 cash value or surrender value? 3- For 2013, there will be a $500,000. payment to the beneficiary (wife), how do we account for the increase in value? Should we just show the cash surrender value as the distributable amount? Any help in this matter will be greatly appreciated!!! Thank you. DPS Rich

Just wondering what others are charging to restate an ESOP plan document. Any help would be greatly appreciated. Thanks DPSRich

ThaNk you for your response. That was my understanding also. I contacted Ft. William support desk and they confirmed that to me.

Has anyone heard of an extension being granted beyond the 2 1/2 months for January 31, 2012 Plan Year ends. Any help is greatly appreciated. Thank you. DPSRich

Thank you. DPSRich

Form 8955 SSA was released this morning on the IRS website. No instructions are available as yet.

They are former clients aand I was not going ask. But thank you.

Thank you. Relius in 2009 did not provide those acknowlegement numbers. When a Relius support person checked the EFAST website the form was there.