Earl

I would use the name that is associated with the TIN

I note box 4 is split on the 2019 Schedule K-1 into a, b & c are both a & b self-employment income? (Don't have a completed k-1, just have a question asked me about it that I can't answer and just wondering how it will work.) thanks

and back door Roths are a consideration.

See top of the middle column, page 1 of Form 5305

Why is there an extension, anyway? Seems to me to be just a waste of everyone's time and paper. I have asked the IRS this via a few submission options but no one ever responded.

Isn't there a point in time after the year end when it has to be tested as a non-elective contribution?

DB Plan has 2 yr eligibility & DC Plan has 1 yr eligibility. EE enters the DC Plan 7/1/2018. He has not entered the DB Plan. Key EE has no DC Plan account addition for 2018. Is this employee required to get Gateway (or any contribution)? If Key EE had made a 401k contribution, EE would be required to get DC TH. Would any additional contribution (i.e. Gateway or 5% TH) to this new DC Participant be required? Thank you

62, I did edit above once I realized I forgot to put in that slightly relevant tidbit. Abandon hope, all ye that enter here.

Lou: I am not setting up anything for this pile-o-you know what David: Plan was effective 1/1/2015, EEs are eligible, no 5500s on the DOL site. No inquiry from IRS, DOL or PBGC received. No way exempt from PBGC coverage. To give you and idea, for the owner alone, age 62, Plan has 100% of pay formula, owner has over $200,000 in W-2 every year and Plan has $85,000 in it. Just learned of plan last week, trying to get my feet on the ground for step one. Thanks for your replies.

Is it possible to find out if a plan has ever filed with the PBGC? I am thinking the Plan Sponsor would have to call the PBGC and identify himself - thus begging the question, "why do you ask?" Dealing with about the worst situation I have ever seen a Plan Sponsor in. Thanks for any ideas on this.

We have filed corrections and received refunds, no problem.

And you have 9 months from death to get the benefit disclaimed.

only NHCEs get a bonus Did you mean HCEs? don't think an NHCE bonus could cause a problem. I would first try gross comp and see if whatever the plan does passes. If so, done. if not, get creative.

one envelope, no list, 30 years, no problem. Many problems with return receipts from IRS - never get them.

not a problem for the broker!

Multiplication is associative

Thanks, Tom Very helpful once again.

Partnership Plan, one Partner essentially has retired but his final K-1 for 2018 is a negative number. Should he still be in the 401a4 testing for the year? Would the relevant question be, "Did he perform any service in 2018?" Thank you

Increase from 50% of 10% deferral (match rate tier 2) to 50% of 12% deferral (match rate tier 1) So it would be 50% of 2% of pay more, or 1% of pay. Does that clarify? The Employee in rate #2 only deferred 10% of pay. Can I give him 1% of pay and say he is in the top match tier even though the match formula for the top tier would not give him more $. Thanks for responding

Plan has increasing rates of match based upon years of service. Top rate has insufficient # of NHCEs so fails. Top rate is 50% up to 12% deferral. Second rate is 50% up to 10% deferral. No one in the second rate deferred more than 10% so moving them up to the top rate and applying the formula would have no effect on the contribution. So, can I: 1. Just give them 1% of pay anyway and be ok, or 2. Do I have to elevate lower years of service people with 12% or more deferral? ER would like #1 since they are longer service employees but would it be a valid correction of the match problem? Thank you

The 945 should show an excess tax payment that can be refunded or credited to the next period.

I remember Sal saying in a seminar that as long as you terminate before the restatement deadline and you complete the distributions within a year you are not required to restate. (Advisability aside.)

I always thought "due by the due date of the Plan Sponsor's tax return" making the Partner contributions due 3/15 is the Partnership return is not extended. Publication 560: a partner isn't an employer for retirement plan purposes. Instead, the partnership is treated as the employer of each partner but I keep hearing "due by the due date of the return on which the deduction is taken" which I have never seen in any official printing.

Thank you for your reply. He is an internist. Don't know if that means there is something to sell but doesn't really matter as he would be trying to see the DB Plan. I suggested trying to merge with someone about 50. The "Partnership" could takeover sponsorship of the Plan and he could see if he could get x cents on the dollar outside the plan. The excess would about fully fund a DB plan for someone in lower 50s I think. Just searching for any ideas others may have. Thanks again

I was asked to review a single participant DB plan for a 68 year old. He has $4,500,000 in the plan. He was planning to retire so a transfer to a PS Plan doesn't really help, even if he works till he drops. After you tell him to get his benefit out of the plan and put his wife on payroll for as much compensation as the CPA will allow, what can you do?