JanetM

Never heard of them, dang right about impossibly low prices. ftwilliam.com for anyone interested.

jevd, that has got to be interesting story. Hmmmm earthquake epicenter...... You still in Denver?

Thanks Effen. Porte, have you looked at SPD for english version of the plan? Have you looked at prior 5500s to see how they were filed? Have you asked prior TPA or anyone?

You MUST begin filing when assets exceed 100K mark and continue even if the assets drop below the 100K mark. Would interpret the rule then to be - once you begin filing you must continue.

Seems to me in addition you have to have deemed distribution of the excess $20,000.

After many years wondering the globe as paid tourist for the Air Force you mean? I worked in CPA firm and hated auditing. Was asked to join newly formed pension group at the firm. After a few years I got to the point I hated my clients so I jumped to the plan sponsor side 6 years ago. I like the view from here, still training baby auditors on the difference between DB and DC plans and how the financial statements are different.

No, there has been no severance of employment or separation from service.

Read the plan document and you will know. How is the contribution defined in doc? Just because the CBA sets the amounts paid in that does not make it MPP.

You don't have to do anything to tell SSA she is not due benefit.

You answers can be found in IRS pub 590 that discusses the IRA and Roth IRA.

I would agree. Failure to operate in compliance means you failed in your fiduciary responsibility, it would not be right to pay for this with plan assets.

Just to play devil's advocate, what about those who now maintain a healthy weight. What incentive are you giving them to keep it?

austin, thanks a bunch!

The little engine that could....................

I almost felt the rush of air as the plane flew over that one.

I have a silly question, am sure the answer is no, but thought I would ask the experts. I have a late contributions for one participant - seems payroll forgot an EE and then ran additional payroll. The total lost earnings are $3.26 of you combine the loan and deferral or $3.49 if you calc them separate. My quesion is........ is there a de minimis amount clause for either the VFCP or filing a 5330? Not sure if software will even let me do 5330 for less than a dollar.

You can ask for a doctors note. All it has to say is employee was unable to work on specific dates. No reason needs to be given.

mbozek, doesn't the AP have to be spouse or ex-spouse to do rollover?

Archimage, I don't think that is the match the original post used. Yes I agree that your match would not need testing since each participant gets the same match beginning at the first dollor. Post said now it is 100% of first five they want to make it 100% of first 6. With your formula, person deferring 5% would get the 120% of 5%. It sound to me like they gave population that deferrs 5% or less and only a few at 6%. Expect they are trying to benefit small group doing 6% at lower cost then benefiting every one with higher match on smaller dollars. What I was thinking was 100% match on first 1% over 5%. That would have to be tested.

Could you avoid the issue and give 1% discretionary contribution for remainder of the year, then change the amount at 1/01/06?. Am thinkin you would have to test the 1% ............... would you pass or does this just benefit HCEs in general?

Yes the audit can be deferred if initial plan year is less than seven months. Going back to JasonElliotts post - PS plan is effective 12/31/04 and all they have is accrued contribution. My guess would be they are using all the 2004 compensation for the contribution and the effective date of the plan is 1/01/04 no 12/31/04. Don't think I can give one cite that says you can use comp for plan prior to becoming a participant. But in the event the schedule C or 1120 get looked at by the IRS I sure would want a 5500 to back up the tax deduction.

Is this a screw ball way to describe leased employees?

What does the document say about calculating match? Bases on total comp and deferrals or on payroll basis?

Is this a small plan or a large plan? If large plan then you have to have an audit and those stmts must be GAAP. Is the PS/Employer going to deduct this contribution on 2004 tax return? For audit trail purposes I would file accrual basis.

My vote would be no. Wife is now 100% owner and she has no legal relationship to the +18 year old girl.