Earl

I have contacted them and usually find them helpful but so far only "I need to research." (I also asked for extension of time to make distributions.)

Can a Plan whose termination has been submitted to the PGBC be amended? Specifically, we want to raise the cash out threshold from $1,000 to $5,000. The Plan in question has 4 participants who we have spoken to directly and emailed and regular mailed distribution forms. These individuals just will not return signed forms for their Plan Termination distributions. No clue why. We are running into the 501 filing deadline. I don't think paying the lost participant program is ok since they are not lost. But I could be wrong there. Thanks for any thoughts on this.

We do this also and the resolution (declaration? I forget the term used) has been requested in audits.

Thanks very much

2017 year, client makes a lot of money. He has a DB/DC Plan for his consulting income. He is over 50. In day job he defers $17,500. How do I determine if he can defer $500 or $6,500? Does he have to communicate with benefits department of day job to determine if any of $17,500 was treated as a catch up 401k contribution? Thank you

Thanks very much.

Plan has 3% SH. 401k eligibility is 3 months, PS & SH is one year. Employee starts to defer early by mistake but terminates before year end, so no TH. Did not satisfy the 1 yr requirement for ER contributions. We amend the plan to let the employee in. What are we letting her into? Just the 401k is ok? Fear is we need to let into SH also. I don't think so but wondering if I am wrong. Thank you

If HCEs are not eligible for the SH contribution are they required to receive the notice. Everything I can find just says "to those eligible to participate". Is that "eligible to participate in the SH benefit"? I am thinking of adding it to my default one person plan design so that when the sole prop calls me today and says I have an employee (who I never heard about before) entering 7/1, it doesn't hose up the entire plan for the year. (Of course it doesn't help the guy who says, "employee who entered 4/1") No consequences to Plan operation/Notice requirement until a Maybe Notice is required prior to entry of the new Employee. Kind of a chicken soup thing. Thanks

Thanks very much.

What do you mean by that? Most of my plans can only get money out by issuing a check hand written by the Plan Trustee from the Plan's cash account.

Sole Prop, sponsor of SH Match 401k Plan, makes 401k and match contributions to himself during year. Turns out he has loss for the year. I feel pretty comfortable refunding the 401k to him as a 415 violation but what about the match. Can that be refunded also or should it be reallocated? (Causing TH SH exemption to be voided and then requiring a TH minimum to a number of employees .) Thank you for any comments

Sole Proprietor age 72 has $0 in account on 12/31/2017. Schedule C is prepared and he will now, 3/30/2018, make a $17,000 401k contribution. That will be the total contribution. Is that amount considered a plan asset on 12/31/17 causing an RMD requirement for 2018? (or can he just rollover the entire amount.) Thank you

And I have spent a lot of time educating DOL regulators on how Mutual Funds actually work (how the cash flow works through the various parties.) They couldn't evaluate their way out of a paper bag. The fees for ancillary services being charged to the Participant are the big issue, as I see it.

“A person who says it cannot be done should not interrupt the man doing it.” Chinese Proverb

For Participants that don't respond to Distribution Election notices and since you can either buy annuities or pay to the PBGC, does the under $5,000 Lump Sum option exist so that the $1,000 balances can be rolled to IRAs? Just hoping. Thanks

Thank you all very much. Incredibly helpful.

Client is a private High School with religious affiliation. They want to include Rabbi/Head of School's parsonage allowance in the determination of the company contribution (5% of pay.) I find for common law employee this is not taxable income so I don't see any authority to include this in wages. is there something I am not finding? Thank you

Thanks very much. Thought maybe I was being too aggressive with that idea.

Owner is the last one paid out. He makes small contribution to hit his 415 limit for his rollover. Subsequently a trailing dividend posts to the account. Plan does not provide for reallocation of excess assets to participants. Can you treat that as intrinsic to the assets transferred to his IRA and roll it over or do you have to/would you transfer it to the PS Plan and allocate there as excess DB assets? Thank you

Can a Qualified Plan invest in foreign ordinaries. Seems to me that would be an investment not subj to US courts (like ADRs) so that answer would be no but I really don't know. Any one know the answer? Thank you

If it is still the dead bene's, why is there a contingent bene?

Client has had self employment consulting income for each year for last 20 years. Started a business with EEs selling widgets which ran for 2005 - 2010. Owned 100% of both businesses. Looking at DB Plan for 2017. can I use the SE income in 2005 - 2010 years when controlled group existed or does the presence of employees in that period mean I have to ignore it? Thank you for any thoughts or information.

Reasonably priced, competent recordkeeping only services for small start up plans is similar to the search for the Holy Grail. I believe it doesn't exist.

If Profit Sharing is $0, 401k should be $23,589.75. (You said $23,589.75 after SE deduction, right?) Why would you make a PS contribution?

Thanks!