Deaconmomma

Thanks guys for your help. Would like to follow your advice, but am sure attorney will say amend. Am also checking with my Document Providers Internal 5500 people to see what they say and then I will go to client. Have a great weekend.

Yes, we did do all the 5500's. The administrator who worked thru this when we took the plan over, evidently determined that it was a Multiple-employer but I cannot find any notes as to why. The Audit does not mention anything regarding single vs multiple. I did check to see. Is there a way I can find out from the DOL if all the forms should be amended. I searched the website but did not find anything. Thanks

I have a plan that was filed as a Multi-Employer Plan from 2011 to 2015 but now the ERISA attorney says it is a Single Employer Plan because it is considered a Controlled Group. Not sure of the history of why this was changed as it was filed as a Single Employer in 2010 but changed in 2011. How and what do I do to Amend these filings. It is a large Plan requiring an audit not sure if that makes a difference or not.

Doghouse, When you say common control? What exactly does that mean? Sorry to be dense. The employees are and have always been in the plan and tested. Just trying to figure out if they all needed to complete the Participating Employer Group? I think they should be classified as a controlled group but participating employers documents have never been signed. Not saying its correct.

They did not sign participating employer documents on the prior document. This is the first time they have told me that they think they are a multiple employer. I new they had two or three other campuses but all census information for testing comes from the corporate offices. I have always tested them as one group. This is a large plan that is audited and no one has ever mentioned this.

I have a client who is a technical school with different campuses all in one plan. Each campus processes it own payroll and has its own EIN #. They file a consolidated Tax Return with all EIN #'s listed. Should they have each signed a participating employer adoption page when the PPA document was executed? Since they didn't, what options do we have for correcting? Will we have to file under VCP?

I have a participant who has to take an RMD this year and wants to take it now... He has Roth Deferrals and regular pre-tax deferrals. Are the Roth deferrals used in the calculation of the RMD. I have never had this happen so I am unsure what to do. Thank

Sorry I still do not understand. So currently, the three have a negative 42,525 totaling 127,575. If I subtract the 60,300 positive number, I get negative 67,275. So no one gets a Safe Harbor contribution. Sorry to be so "dense".

Hope someone can help me with this. I have a client with 4 partners with K-1 earnings. This year they reported "negative" earnings on 3 of the partners and positive on one. The one with positive earnings terminated from the company mid-year. This is a Safe Harbor Plan with a 3% non-elective. Do I calculate the total earnings using the net of the 4 partners and give each of them a SH contribution based on that net number. The three remaining partners reported -42,525 and the terminated partner reported a positive 60,300. I looked at the document and it doesn't say anything regarding this. Can someone please let me know your thoughts.

When processing loans, if participant has already received approval to borrow 50% of their vested balance determined at the time they requested the loan. They have signed and returned the paperwork. Now with the market drop, do we need to recalculate the amount the participant could borrow. What if the paperwork has been sent to them, but they have not returned it.

Tom, If my top Heavy plan was tested using the Accrual Method last year, can I switch and test using the Allocation Method this year. The plan fails using Accrual permitted disparity, but passes using allocation method. All eligible are receiving a top heaving minimum.

We have a Municipality that currently has a 457 plan and a 401(a) Money Purchase Plan. I believe that the MPP should be required to have compliance testing and 5500 filings. Am I correct? The Municipality is a Medical Rescue Squad Authority. Also. they have questioned me about an ACT 205 filing. And although I now know more than I want to about ACT 205 filings for the State of PA, I am not sure that I know how to go about filing. Any advice. Thanks