JanetM

To say a 401k PS plan must have substantial ongoing contributions would prohibit a deferral only plan since there are no ER contributions. You can have a 401k plan that has no PS, match or any type of ER contribution.

My take is that if Employer B is plan sponsor and Employer A is going to be allowed to participating employer, then Employer A is not starting a new plan and will be allowed to join Bs plan. Answer would be the same whether you froze or terminated. Second part - first you said 401K not you refer to employer PS contributions. Imagine a 401k plan that is employee contributions only (we used to offer these to union locations who have DB plans until we killed off all the DB plans). Based on your logic the plan could never have even started.

Participants should receive prospectus (or summary) for funds, if they can pick stocks they should request annual report and reserch interim SEC filings. Participants also have a right to see the form 5500 and all attachments except the SSA form. What kind of questions are you trying to answer - at individual investment level or at aggregate plan level?

Well if sponsor is being liquidated all the employees are terminating and no future accruals will be earned. In a couple of weeks I can't see that the plans sponsors liability to the plan can be increased much. Make the notice with the future date but from the sound of your post there won't be anyone left to get a benefit?

I agree with Bird. Literal interpretation is only way to read it.

Yes it would be better to sell to unrelated 3rd party. Since they have made the mistake of not getting exemption before hand, the best bet is to fess up and try work with IRS to find a way to fix the IRA.

Is it possible for them to sell the art to their taxable account at the appraised value to get it out of the plan?

Depends on the set up. Is the h&W plan actually separate plans/contracts for each location or do you have the parent sponsoring the plan and members of the CG are participating? IF you have first arangement with each location having their own separate plan than each files a 5500. If the parent company has one plan and all the subsidiarys are covered by it - you have control group with single employer plan. Calling each location different name/EIN doesn't make sense from an accounting view, it can be done easier.

We have done a few mergers here (we are plan sponsor not TPA) we have filed final return for merged plan and shown all on SSA with D. Then the return for the new combined plan shows all with an A. Has worked so far, no one has received two letters.

Set up a policy and follow it. If we get something returned we mark it bad address and nothing else is mailed to that address. At that point they are added to missing list and our AA has access to two people finder databases to find new address. We keep plugging away until we find them and move them back to mailing list. You say monthly mailing? Are you talking about retirees getting the advice that tells them what the direct deposit was?

The form was revised January 2008. Anything filed after that date should be on new form.

Laymans terms - Not if the father/company, using proper due diligence as a fiducairy, show the son is the right one for the job, based on all the important stuff like cost, experience, objectiveness, etc.

If the brokerage firm can't figure out how to fix it, it makes me think someone at the brokerage firm has not fessed up the mistake to the proper people. I don't understand why it isn't simple fix? There is no income tax reporting on either accout and no deductions on Jims 1040. Just retitle account and get the right. Since the IRA contract is legal contract you may have to attorney who knows contract law. Tell Jim the quickest way to get something done is to tell his contact they have 30 days to present a solution or he will contact his lawyer.

Does he have any of the original paperwork for the second IRA? Was the mistake made by brokerage staff when forms clearly indicat Roth ? If so he could go to brokerage firm and get them to fix the mistake and reclassify.

If she sends an appeal in, in the proper form for the plan, the plan is required to respond. They can't just not review it.

only if the income from the annuity will be received later 100% tax free.

Mel if the distribution is pending normally it would be very soon. Your question should be how often do they process distributions? Daily, weekly, monthly?

Thanks masteff. Since all our plans stick to safe harbor I suppose I didn't realize it wan't mandate for all.

QRRO, I thought that only applied to Katrina announcement 2005-70.

It is possible. You would have to look at the SPD or enrollment materials to be sure.

You assume too much. Congress screws up all the time, that's why we have technical correction bills so often. I would interpret the rules to be on all plans, 423 included. I don't see it violating universal availability, after all no one forces one to take a hardship. So you can choose to participate or not in the plan, by taking hardship you are electing to stop participating for 6 months as condition for getting hardship.

Any other retirement accounts they could draw from?

The plan will require a bond now that it is ERISA plan. I don't think that the employee being 16 matters. What if the 16 year old was not theirs. List of approved entities at www.fms.treas.gov/c570

I agree with SCA and Andy. Net the two, get loss, no deduction. Min funding only

I would list 0 active and those with account balances as deferred. If the plan is terminated and simply in state of being paid out, you have no one in state of active participation.