dmb

What if a 57 year old participant in a DB plan separates from service, begins recieving a monthly benefit and then is re-employed?? How does that effect the early distribution tax issue??

I think the employer's concern is legal protection. Is there a way to keep the existing money classed as a SEP or will it become an ordinary IRA??

What if the employer is not happy with the investment firm that set up the SEP? If he wants to set up a SEP with a different investment firm is a trustee to trustee transfet possible?? Can the existing SEP assets be rolled into the new SEP account??

I aggregated plans for ADP and ACP as well. Passes both with flying colors (as well as MU test)

I have aggregated for testing. Thanks for all your input.

Oh, i guess i forgot to mention that the recipient employer contributes the leasing match.

Just to update....the leasing company's plan does have a match and the plan passes coverage from all sources.

An employer has two divisions. One division in the USA and one division in the UK. Each division has it's own pension plan and each division has about 400 employees. A small group of the UK employees will be working in the USA division for about 8 months and will be paid in US $$$$. Does the service in the UK division count toward any service requirement for eligibility in the US division's plan??

Are there any custom reports for Defined Benefit plans???

Thanks. I just set up a new source and account, imported and posted the necessary data, ran the tests, then reversed it. Thanks again.

How do the new required minimum distribution rules effect distributions from Defined Benefit plans??

I am a TPA with a client who has a cross tested plan that we administer using Quantech. There also is a 401k plan that is sponsored by the leasing company that covers our client's employees. I am trying to check the average benefits test for the cross tested plan. In order to do this i need to consider all contributions from all plans. However, the "annual additions, other plans" field is only for 415 purposes. Is there any way to include the other contributions for the average benefits test?? Thanks.

I have a client which is a group of Doctors. this group of Doctors employes 200 or so employees through a leasing company. The Leasing company provides these employees with a 401k plan. The Doctors set up two plans. One 401k plan for themselves and a Cross Tested PS plan for everyone. The question is: If the Leasing company doesn't provide a match in their 401k plan, can the Doctors provide a match for themselves in their 401k plan??

The partners of a partnership sponsor a 401k plan. They are planning on making only the 3% top heavy minimum contribution to the non-keys for 2000. They prefer to make the contribution in the second half of 2001, but would like to file their individual Form 1040s on a timely basis. Since the partners are not getting a contribution can they file their individual returns before making the plan contribution??

If a calendar year Money Purchase Plan (25% of comp formula) terminates 11/15/2000, is the $30,000 415© limit pro-rated?? I'm almost positive it is, but i cannot find a site.

I'm not so sure. The issue is whether or not the Leasing Company's plan should be somehow aggregated with Employer A's PS plan for top heavy testing. If they aren't aggregated I don't beleive the two employees should get a contribution since they aren't eligible for the plan. If they should be aggregated, how would you do the testing, seeing as teh Leasing Employer has other participants besides those in Employer A's plan???

Are there any special rules or regs regarding amending a 412(i) plan to a traditional non-412(i)defined benefit plan?? If so, is there a site i can reference?? Thanks.

Thank you. I found out yesterday that it doesn't apply to owner only plans. Unfortunately we have another potential client in a similar situation with employees.

We have a client who is 50% shareholder of a S-Corp. The S-Corp is 50% owner of a LLC. The client has W2 compensation from the LLC. The LLC has no qualified plans or SEPs. The question is, can the client contribute to a SEP sponsored by the S-Corp. If not, what about the LLC??

I have an owner only that has over $100,000 in his plan and hasn't filed a 5500EZ for 1997,98 and 99. He is planning on filing the 5500s currently but has some questions. Who would assess the penalties for the pre-99 filings?? If it's the DOL, is it too late to go through their VCR program?? For the 1999 filing, what kind of penalties can be expected?? Will it be similar to the IRS or will it be just handed down, no ifs ands or buts??? Any help would be appreciated. Thanks.

Two plans. A 401k which covers only owners and a cross tested plan which covers owners and all employees, the non-owners are all from a leasing company which sponsors it's own 401k. For average benefits testing should the non-owner employees' 401k contributions to the leasing company plan be included in the sponsoring employer's cross-tested plan??

I have a PS plan and a MP plan both merging into a DB plan. Is a 5310-A required to be filed??? Thanks.

No, I'm talking about a random IRS audit.

Can administrative fees from a plan audit be paid from the plan??

Can the 100% owner of an LLC have Schedule C income?? or since it is a corporation, must he have W-2 income???