401_noob

I think this is discussed on the bottom of page 13 of EPCRS.

That is exactly what I was looking for, thanks ETK and MWeddell. However, I failed to mention that this is for a church plan, so does this rule not apply per Treas. Reg. 1.403(b)-5(d)? Thanks!

Are there regs similiar to IRC 401(k)(4)(A) or Treasury Regulation 1.401(k)-1(e)(6) that apply to a 403(b) plan that prohibit a benefit be provided based on the participant's election to defer to a 403(b) Plan? Thanks!

Have you consulted FAB 2008-04 http://www.dol.gov/ebsa/regs/fab2008-4.html%C2'> The background says "A plan official must be bonded for at least 10% of the amount of funds he or she handles, subject to a minimum bond amount of $1,000 per plan with respect to which the plan official has handling functions." If it were only 2 HCE's that were husband & wife, then the Plan wouldn't be subject to Title 1 of ERISA and therefore wouldn't need a bond. Those are my thoughts though.

So what would be the benefit of having a myRA opposed to just starting an IRA at a bank or credit union? Call me crazy, but this just seems like a way for the government to dip its hands into the pool, just like Social Security.

See Q-A 5 of FAB 2012-12R http://www.dol.gov/ebsa/regs/fab2012-2R.html

How does IRC 318 apply to a partnership in that the spouse of a partner in a partnership are treated as having the same capital or profit interests? Is it IRC 416(i)(1)(B)(iii)(II) " in the case of any employer which is not a corporation, ownership in such employer shall be determined in accordance with regulations prescribed by the Secretary which shall be based on principles similar to the principles of section 318(as modified by subclause (I))."? And if it is, what does it mean when it says "as modified by subclause (I)? Thanks in advance!

If I recall correctly, there are several options beginning on page 117 of Rev. Proc. 2013-12

A client, which is a corporation, sponsors a 401(k) Plan and the only participants are the 8 owners. Is a Fidelity Bond required? I believe that it is required to be covered by a Fidelity Bond as Q 12 of FAB 2008-04 says that the bonding requirements do not apply to Plans that are not subject to ERISA Title 1, but since there are multiple shareholders of the corporation, then the Plan is in fact subject to ERISA Title 1 (at least according to my understanding). Full disclosure, I am as my screen name suggests new to this industry, but I wanted some additional thoughts and opinions.