Bill Presson

No. If you are paid for preparing a return, you have to have a PTIN.

Dave, That appears to have worked. Thanks!

This morning when looking at my "unread" message list like I do almost every day, it was automatically showing the expanded view (title and first several lines). I clicked the condensed view to change back, but nothing happened. Not the worst thing in the world, but not sure why it changed and can't be corrected. Thanks. WCP

Nope. You're right. Dang. Hate when I make a mistake. Almost got through the whole year, this time. ?

Can't do the first one either or at least not the full amount.

No. From the IRS: A participant can make catch-up contributions for a year up to the lesser of the following amounts: The catch-up contribution dollar limit, or The excess of the participant's compensation over the elective deferral contributions that are not catch-up contributions.

I think we've all stated that they have to sign the deferral election by 12/31 of the year in which they are deferring because that's the date the income is deemed to be "earned." I don't think this changes that.

You might want to talk to someone else. You would be shocked how many divorce lawyers don't know what they are doing when it comes to QDROs and ERISA law.

Chip, I think Larry covered most of the concerns, but the doctor not being a statutory employee was the main one that I had.

See here: https://benefitslink.com/cgi-bin/qa.cgi?n=49&db=qa_who_is_employer

Once the money goes in the SEP accounts, they belong to the participant and what they do with the money has nothing to do with whether they are eligible to get a contribution this year. Just apply the eligibility requirements and make the contributions.

Thanks and Congratulations!!

I used Relius for almost 20 years and don't recall this being an option. If it was, I likely wouldn't have used it anyway.

Strictly speaking, yes. Whether the client follows your recommendation or not is another thing.

If you use this page: 5500 Form Selector it will tell you.

I'm guessing it is a plan with an individual brokerage account for each participant.

Agree with Lou. Then the employer needs to find a new investment advisor/recordkeeper.

Contact the benefits people at his work. They can tell you the status and what is required.

It happens. (hope I spelled that correctly)

I endorse getting this. It is invaluable in the literal meaning of that word. WCP

Agree with Larry. I've tried to get all clients to do this with general success. Also, I handle the 401(k) plan for our own firm. I get the download the Friday before payroll of any changes requested. I send that info to our payroll clerk and she makes the changes. It takes, maybe, five minutes.

This was almost an identical set of assumptions that Norm Levinrad presented in one of his sessions at ASPPA. He described it as "indefensible shenanigans" if I remember correctly. WCP

You beat me to this. Thanks for this summary.

It was an enjoyable conference. Glad I got to meet several of the BenefitsLink members while there. WCP

Agree with your comments on Paul. I was at Warren Averett from 2003-2015. Great firm to work with. WCP