ratherbereading

5500EZ is for owner + spouse so believe they need to file 5500SF

Plan is a basic safe harbor match - participant receives a $1000 bonus and elects to defer 100% of said bonus. Does he get the sh match as well? Thank you in advance -

I laughed way too hard at this.

Probably for the same reasons clients never have their document, or anything else we send them!

I would say no.

If RMDs were suspended for 2020 and she is now employed, I am not sure why she would have to take one.

Same issue here. We just noted the new trustee in the new doc and send a notice to our client to send to the old trustee, who is term'd, that he was removed .

I think you think you are talking to Relius--this isn't Relius, it's Benefits Link -- nothing to do with Relius!

What RatherBeGolfing said. And why are you working on Sat? Makes sense Relius is closed on the weekend... 🙂

It was the weekend--I never work the weekend. Means your workload is too much if you have to work on a Saturday!

Hmmm. Good luck with that! Employers do the least they can for employees nowadays. Not like back in the 70s/80s!

I would say not, but we make the plan administrator/trustee make that decision. We advise that they should gather proof, but it's up to them to allow or not. And it depends on what type of hardships the document allows; fact and circumstances, safe harbor rules.

I don't have any plans with dual eligibility so maybe someone else will chime in!

Splitting the eligibility requirements between 401(k) and safe harbor generally does not affect your ADP/ACP test, but it can affect the impact of the top heavy requirements.

Although the initial provision for penalty-free 401k withdrawals expired at the end of 2020, the Consolidated Appropriations Act, 2021 provided a similar withdrawal exemption, allowing eligible individuals to take a qualified disaster distribution of up to $100,000 without being subject to the 10% penalty that would normally apply. This extended the timeline for penalty-free distributions through June 25, 2021.

Lol! Bugs me too! Not that the Yankees are so fantastic...

I don't have designations and was never interested. If you have them, use them, but all it means is you know how to study for a test. I've worked with a lot of people with designations who know less than I do about plan administration... But your point about doctors doesn't make sense, no one I know uses their undergraduate degrees under their signature, and doctors do in fact - at least some - use designations after their names.

Think I mentioned it before but I have a client who has his wife and 2 daughters on the payroll and they don't show up ever! The daughters have high paying jobs elsewhere and the wife doesn't work at all. But each year they all get a W2, their 401ks maxed out out of 1 paycheck, profit sharing and SH match. Nice deal if you can get it. Client's CPA is a friend of mine so it's absolutely true.

Yes I definitely remember Curtis!

My husband lived in Cleveland for a few years and hated it. He said it was the worst city he ever lived in and he's lived in a lot.

Other teams hate the Yankees only because they know they will never be the Yankees, lol! No other team has a following (world-wide) as they do. My husband is in the process of selling his 50+year huge collection of baseball media guides and other publications on EBAY - he just got good prices on quite a few Indian items so you have a point!

Yuck! What a horrible change. As a Yankees fan I prefer what my husband calls them - the Cleveland idiots, lol! In Cleveland, the mistake by the lake!

I actually only have a handful of plans that even need a Schedule A (5500-SF filers) and none that need a Schedule B. For my EZ plans I don't prepare any schedule. Hope that helps!

Welcome! Yes, that is what you do.

What does the plan document say? Having an outstanding loan doesn't mean you can't have a hardship.