Jim Chad

RMD's for 2010 - They were suspended for2009. Were they also suspended for 2010?

I hit the enter button too soon. I am looking for a compliance checklist and program: the kinds of things the IRS and DOL will look at.

Where can I find a checklist and program for health insurance and HRA Plans?

Millenium Trust might 630-472-5306

FWIW I think earnings would be required to correct this from what I remember reading in Rev. Proc 2008-50 on corrections.

Great Question! FWIW I think the answer is yes. I think you would bring in those people as directed by the document, whether they deferred or not. At first glance this looks like a great deal for the employer. But those people that did not defer will hurt the ACP and ADP test.

Have a case where Safe Harbor Contribution for 12-31-09 PYE was not made yet and we think no extension was filed. Of course, I am hoping that when the CPA gets back from vacation he will have good news for me. But just in case I don't get good news I was looking in Rev. Proc. 2008-50 for where is says the correction for this. I remember that we can self correct through 12-31-10. But I can't find this. Can someone tell me where it is? Or am I all wrong in my memory?

FWIW I knew a guy who lived in an RV for 2 years while he and his family built their house.

FWIW I would take them out at the next restatement of the document. I can't think of a reason to need to do it earlier. Can anyone else?

Last year I filed a 5500 for a plan. In 2009 , the owner was the only Participant. Assets are only about $40,000. So I am not required to file this year, I think. If I don't file, will the employer get a letter asking for the 5500? Will anything else bad happen? Am I wrong about not needing to file a 5500, or 5500EZ?

Maybe the reason is the fear of the government. Paranoid.....who ME???? I have mentioned it to employers and a few have taken advantage of it and most have made comments about too many employees are more concerned with their paycheck. So the payments to fringes such as health and retirement need to be balanced.

FWIW I have never heard of such a form dealing with 401(k) Plans.

Yes: I am pretty sure that Rev Proc 2008-50 tells you this is the way to correct.

The way this is usually done is to recognize service with a certain previous employer. As long as this was available for everyone, I did not think it was a testing issue. But then I have been wrong before. What does everyone else think?

Instead of cross-over, is it possible they are using the term Catch-up?

FWIW This my understanding from everything I have ever heard or read from the DOL. In the late 90's, this question came up in a big way with one of my plans. I have asked many people form the DOL since as well as watched for anything related to this question. If I get an answer it is always the same answer.

I believe the information you are getting is correct. The "average from the ADP test" is used when someone was not informed of eligibility and signed no form.

Thanks, Mike. I know that in Grand Rapids, there are events that are small enough that they never get on the internet. And these are often the most fun. Can anyone give me a personal recommendation on any events during the week?

I am paranoid enough that I want signed copies. I like the way this makes me look when I can hand an auditor (IRS or DOL) a nice complete package. I follow up until I get the signed copies....and I start charging for the third and following requests.

It is OK to have this arrangement. But I hope you are billing by the hour instead of a set fee. The amount of unexpected work has been truly aggravating.

Any swing or ballroom dancers out there? I will be in Chicago for the Great Lakes Benefits Conference and ERPA Conference in June. I am looking for a dance event for Wednesday, June 16th or or Thursday June 17th. Does anyone know of anywhere reasonably close to downtown?

Considering the way most signatures are "written", wouldn't it be an easy matter to change the scribble a little for this? What qualifies as a legal signature? Any attorneys want to join this thread?

I was just contacted about an employer who has 125 employees with pay over $5,000 in 2009. Last week 30 employees were still deferring into this Plan. Does anyone have nay ideas about correcting this? I think they should stop all deferrals to that Plan now and will need to call these after tax contributions to an IRA when they do w-2s for 2010. Anyone else have any ideas?

Austin, What did you find on page 46 about initialing or signing?

This is great news!! One little question.....well comparatively little.... What do you all think of someone's signature being public information?