Mike Preston

The answer to the question, as posed, is no.

A CRD from a plan merely means that a distribution that would, in the absence of CARES, be precluded is allowable. So the relevant question is whether this terminated participant is precluded from receiving a distribution.

Not true.How about everybody in their own group.

Disaster relief?

Pet peeve: controlled group. No.

This is but one scenario of many that are similar. Success through EPCRS depends on the employer establishing employee expectations consistent with exclusion.

Me thinks you are suffering from tunnel vision. I'd love to put you and @LarryStarr in a small room and see who walks out.

You follow the plan's terms to develop plan compensation. AOK to ignore loss if supported by plan documents. However, 415 comp includes all aggregated employers so that might end up forcing comp to be limited.

I thought one of the requirements for use of VCP is to correct all instances of similar failures.

Uh, that's the point!

Works 4 me.

No cite exists. It is the end of the month.

There is so much disclarity in the first post I guess I just never saw that language as implying even more.

Did you mean "TH"? Either way, not if the document doesn't allow discretion.

Did somebody say differently?

Most outstanding! (Guitar riff...)

Agreed.

Famous last words.

Not so fast. If this was a question for a client that was being audited and they'd already done this I would take the time to go into the archives wherever they may be and find the ask the experts session from asppa annual where Kyle from either treasury or IRS (i forget which) opined exactly the opposite. It was in response to a question that Larry Starr asked and after Kyle gave his unbelievable response Larry went back to the microphone and tried to convince him he didn't hear the question correctly. As I recall Kyle doubled down and basically said if you pass amounts testing even if you include the profit sharing to do so insurance in the defined benefit plan can be based solely on the normal retirement benefit payable in the defined benefit plan. Fwiw

Not off the top of my head. Maybe somebody else does.

You don't use partnership rules at all when the LLC is taxed as a corp.

Just that the breakdown of deductions is probably more challenging than it should be. Need a good, detailed spreadsheet to make it all work. But, it should still be full speed ahead.

You are not.

While not totally off base, it is a complicated analysis. One thing I noticed is that you didn't limit gateway compensation to compensation earned while a participant. There are others. I don't have time to respond with a deep dive. Maybe somebody else can.

Each year stands on its own.