Jim Chad

FWIW I don't see a problem with a plan continuing to exist for a few years with 0 dollars and 0 Participants. But if there is any question about the past documents being perfect as far as signatures and dates of amendments etc. this may be a perfect time to end that Plan and start another one.

Participant with $800,000 in plan has $75,000 in after tax account. the basis is about $52,000. Can he roll the $75,000 after tax to Roth and pay tax only on the $23,000 gain?

I use Relius for Admin, forms and docs and I like it a lot.

I don't bill extra for setting up the Auto IRA. But prior to that, I sometimes bill for my time in looking for a lost Participant. Does this help?

If people have the right to defer into a 401(k), I don't see how they can have a SEP. What do other think?

There is no "temporary' loss of ability to direct investments. So I agree that no blackout notices are required. FWIW

She has an account balance but is now back in the excluded class? I would say she is not entitled to a top heavy contribution. What do you all think?

I don't call it a distribution fee. I call it a "closing a dormant account fee" and I disclose it in the SPD. FWIW

HI. Have you guys heard that SEP's and SIMPLE Plans are now being audited...... and some of these owners are getting hit really hard. There is no statute of limitations on these plans. I have worked on fixing one SEP and one SIMPLE IRA..... and the fixes the IRS was imposing were expensive.

Do I understand he is going to have both a profit sharing plan and a SIMPLE Plan in existence in 2012 and part of 2013? Isn't that a problem even if he does not contribute to the Profit Sharing plan?

FWIW I think yes. Making sure the Participant gets back the correct number of dollars is the goal.

I understand that the SIMPLE IRA is disqualified for the current year and all contributions for this year must be refunded. Is this done by the employer writing a letter to the investment company explaining that these contributions were not allowed and the money should be sent back to the employer?

A zero match on the lowest deferrals looks bad to me, FWIW

The excess is not eligible for rollover. Was it sent electronically? Can it be reversed? Have you tried having the company that sent the money contact the IRA company? You may want to try sending a letter to the Participant explaining the error, that it is not eligible to be in the IRA and if it is not sent back to the Plan it will be reported to the IRS. ( A corrected 1099 does need to be done if it is not sent back)

Masteff, Thank you for the link. This was something I had no idea about.

yes to the first question and no to the second

I hate to be a pain. But even though they are thinking percentage of pay, I believe Profit sharing is always a flat dollar. If my thinking is correct, the only way to make this right is to take away from all 3 and reallocate to everyone else. What does everyone else think? Am I all wet (again)?

FWIW my experience with IRS auditors and DOL people have been really quite good. And sometimes I felt sorry for them enforcing rules they obviously thought were bad in the details.

I thought it was not possible for a married person to buy real estate and not have spouse's name on the deed. So I have no idea if this is OK. Does anyone else?

Thank you, for the help.

I remember reading that at retirment, money could be rolled from an HSA account to a 401(k). But I can't find it anywhere? Was this just proposed? Does anyone else have any ideas on this?

Does anyone know what is allowed in the way of transfers from 401(k) to HSA? How about HSA to 401(k)?

Thanks, everyone for the confirmation. I swear.....there are days when I am not sure of my own name.

This is what I meant to have. I hit the post button too soon. I want to double check my understanding. It's been a long week. Safe Harbor match can only match deferrals up to 6% of comp. Is there any limit on how high the match can be on a safe harbor match?

I nwant to double check my understanding. It's been a long week. Safe Harbor match can only match deferrals up to 65 of comp. Is there any limit on how high the match can be on a safe harbor match?