JanetM

Lets see, my dad was military then dept of Navy civilian, I was military but got out, married someone in the military....... he retired, divorced now. Along the way, using many different schools I managed accounting degree and CPA. Belgrath, that kind of reminds me of the seasons in Ohio, most of which include gray skies.

Am sure there are many. Back in my TPA days in the late 90s it was most of the small employers who would only remit once a month. Am sure there are just as many now.

IMHO, which could be wrong of course, unless this fellow is fiduciary, Key, HCE or somehow involved in managing the plan, you have a simple mistake not a PT. Not sure where on 5500 or 5330 you would put that one.

I have lived in many places that had only two seasons (the Philippines, Okinawa, Mississippi, Texas) hot and dry or hot and raining. Other places I have lived had only two or three seasons, Upper Michigan, Oregon, Nevada, Idaho, Germany, Iceland, Korea.......... I like the variety here.

Dang, the chicken picks better than me. Couple years ago I got drug into a March Madness pool, came in dead last. Best part was the one prizes were for first or last. I still ended up with $50. Hey Tom, where on the link do you find the chicken? He might come in handy if I ever have to join the a pool again.

I do it the same way, using the receivable and payable lines to include the accruals. Makes it easier whne you roll the trial balance forward, all the numbers stay in sync with the 5500.

Does the plan specify % on payroll basis or annual basis. If stated as 10% annual then they could do 5% for a while and 14% for a while, as long as they don't exceed annual rate. If the plan specifically - as all four of ours do - that % if calculated on payroll basis then they are out of luck.

We have four seasons in Denver too. Don't get that in southern CA.

census bureau is another place.

jevd, is that a seismograph or an EKG? I like the masochistic bandaid look better.

My question would be what happened to previous SPDs? Are all four of these plans new? If these are not new plans and they are pinching pennies, have someone revise old SPD and get it reviewed.

I would use the 3I for the ESOP. Is redundant, I think, because you have already indicated that by the 2O, 2P or 2Q. This code was new in 2003 so there is little on it in the preparers manual.

Just to clarify, even if assets never exceeded $100,000 a filing is required upon termination. I would send the last EZ with letter explaining and beg forgiveness.

No regs or model amendment have been published yet. Lsst thing I saw regarding further guidance was rev proc 2005-66.

Only the fee line could remotely be used, the others are clearly defined and don't fit. Is not a transfer acccording to my manual. I would put it on 2h and be done with it. Don't forget to file your 5330 and pay your tax while you are at it.

As Tom said, check the SPD, maybe you could take the minimum loan and then qualify for the hardship.

Am confused by reference to lines. But here's my take on them. Audited financial stmts should match 1f and 1l - total assets and net assets available. Is you general account a clearing account type of thing. We don't include that as plan assets........... theory being - accrual basis -you make a distribution and put money in clearing account it is not plan asset at point. Just because the cash sits until the distribution check clears doesn't mean you count it as plan asset. Participant loans are a pain. Unless plan is in master trust Ido show loans on line 2e, I don't include deemed defaults on that line. I do include them on distribution line. Am only in panic on two plans, audits aren't final. Other then that..... in in good shape this year. LOL I do 5500s for all our companies plans and master trusts.

I agree with Bret, unless you are active in marketing the property now it is not a contingent liability. You are definately understating your assets. Hasn't the plan auditor pointed this out? They would also have to have FMV updated annually for audit also. With majority of assets in real estate this plan must have an audit, what does the auditor say?

Hey Lori, you started this, what is your background? Belgrath and jevd you are both too funny!

HMMM, is that a question or statement. I still contemplate changing my name to Murphy sometimes.

Santo, my point is do you want to use the product when they can't help you with technical questions? I think it would be worth a few more dollars to have legal advice from provider.

No, catch ups are not included when calculating annual addition. Only those deferrals under 402g are counted.

Hey Kirk, think we are safe with S-cubed in town?

jevd, S cubed - shiver, shake, shudder

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