ratherbereading

I think it would be as long as it has a bathroom/kitchen, etc.

Starting January 1, 2026, employees aged 50+ who earned over $150,000 (FICA wages) in the prior year must make all 401(k), 403(b), or 457(b) catch-up contributions on a post-tax Roth basis.

Thanks, David. Yes, the plan allows for rollovers from another qualified retirment plan or an IRA. The document does not address returns.

I should know this - but, a plan participant in a 401k plan took a full distribution in February as she was a terminated participant then. She is returning to work now and wants to return the funds to her NW account. She was 100% vested. Is this possible? I am thinking no. TYIA!

If their balance is under $200 we automatically cash them out per the doc and SPD. Most of it goes to fees. No special notice to participants.

Does the company use a TPA? If so, they may have a compliance department that can handle the correction.

Client gets a notice from the IRS that Form 945 was not filled out for plan years 2022 and 2024. As a TPA, we do not do this, their recordkeeper (VOYA) does not do it. Their tax person advised them to follow up with their "plan administrator" (meaing us) but technically THEY are the plan administrator so someone in their company should have done it. Why would they not know this. Anyone else run into this issue?

I think yes. See below from DWC- the 401k Experts (their wording, not mine):

Would anyone happen to have a 401(a)(4) test on an Excel spreadsheet? I had one a math/Excel genius put together years ago but it's not working correctly. It saved time from entering and reentering numbers into Relius. TYIA!!

Agree - not a severance of employment.

Not for a large plan audit. Everything can be onde via email. I think you are referring to a plan being audited by the DOL/IRS, not an audit because the plan is a large plan. Totally different things.

I agree with what people have already said. And "brilliance" in one field doesn't necessarily transfer to "brilliance" in another field. I was a literary agent in another life and everyone thought their book would be an instant bestseller. Hah! Nope.

401k/profit sharing plan. Owner's 2025 W2 showing $96,143 in Box 1 and $99,999.90 in Box 3 & Box 5. Their pre-tax deferral amount in box 12 is $20,150. In addition, their 2% S-corp shareholder employee health insurance premium of $16,293.32 is in Box 14 (other). To get to their considered compensation for their safe harbor/profit sharing contributions do I add $96,143.22 + $20,150 + $16,293.32? For some reason this one is confusing me. TYIA!

It seems safe to omit, but they also can either: add Roth just "in case" / eliminate catch up contributions / eliminate catchcup contributions for anyone earning under $150,000.

Sorry, I am not sure if there are or not but it makes sense that there would be. Do you have a rep at Voya you can contact?

I upload vesting to voya using the plan year date, not the current date. I can't help you with the error. Are you the TPA? You should have a voya contact for that plan to whom you can email your issue.

I think you need to hold the benefit until a valid SSN or TIN is provided. This also needs to be reported to the correct authorities- SSA's Office of the Inspector General. This is from a previous post asking the same question:

I can't add anything else - but we did fire a client once because the owner took an illegal hardship distribution.

https://www.plansponsor.com/fraudulent-hardship-withdrawals-draw-grand-jury-ire/

https://www.bbb.org/us/fl/longwood/profile/sales-lead-generation/blustar-leads-inc-0733-90712106/complaints Is this them??

You need to contact the client about the differences and ask to see their payroll records so you can reconcile the deposits. If there are late deposits they go on the Form 5500 and earnings should be calculated.

Yes it is. And the loan first, hardship second is no longer in play.

It looks like she was terminated prior to meeting eligibility for the MT and PS so I'd say no she's not. Her 90 days would be 12/22/2024 and entry date 1/1/2025.

Which calculator are you talking about? The VFCP calculator on the DOL website is specifically designed for calculationg corrections under the VFCP, not theDFVCP. The DFVCP has its own calculator. , which you may know, just wasn't sure which one your were referring to.

My only comment/opinion is that maybe the person you spoke to actually didn't know why you weren't told about the audit; hanging up on her was rude. You need to talk to someone at your company re this.