UtahCPA-APA

Seems to me the Individually designed plan PPA restatement period, depending on EIN, was between 2011 and 01/31/2016. No need to run. Plans like these are why they pay us the big bucks, lol.

Are there any UBTI issues?

Is this a Roth deferral, or is it an Intra-Plan rollover of After-tax voluntary contributions to a Roth (not subject to 402(g)? If it is an Intra-Plan rollover, you would need to be careful of violating the Step Transaction Doctrine.

I have a new plan, started by a 75 year old owner, in 2014. He had no account balance as of 12/31/2013, and a $2,000 account balance as of 12/31/2014. He is required to take an RMD for 2015, but can he postpone the first RMD to April 1, 2016, even though he is 76 years old in 2015 and not 70-1/2?

If a company is winding down, and the owner terminates all employees except himself and distributes all accounts except his own from a profit sharing plan, when does the plan become a one-participant plan eligible to file Form 5500EZ, if ever? Can he file a Form 5500EZ in the year all other participants are paid out, because at the end of the year it meets all of the requirements of a one-participant plan? I want to file an EZ, because the only remaining assets are disqualified assets and he doesn't have a large enough bond to cover, so he would have to have an audit.

An illegal alien with false documents was hired in 2006, and starting participating in the profit sharing plan in 2007. His illegal status was just discovered, and he has not returned to work. The Employer does not want to pay him any pension benefits, because he was hired and participated under false pretenses. Only discretionary Employer Contributions are in the plan. Is there any authority for forfeiture of the account and reallocation to remaining participants?