Jim Chad

I think most of the free docs do this. Vangard and American funds for example do this on their SEP prototype. And that is what I am trying to help with. The Sponsor has a 403(b) so he cannot use the 5305 SEP. I wonder if they will have to switch to a 401(k).

Profit sharing plan has annual valuation. The market is up quite a lot since 12-31-15. What rules do other people use to decide whether or not to do an interim valuation? Or I should say when to recommend it to the trustee?

GMK, that is exactly what I was thinking. But don't the Participants have the right to move there money to another IRA any time they want to? So, since it seems to violate the regs, does this paragraph have any real meaning?

Let's say we are using ABC brokerage company's prototype. It has a paragraph in the doc that says "all assets will be held at ABC Brokerage firm" Does everyone follow this completely? What would happen if you didn't?

I am asking about the paragraph in the American funds SEP doc that says "all assets will be held at American Funds" Does everyone follow this completely? What would happen if you didn't?

Nonprofit has a 403(b) for deferrals and a SEP for Employer contributions..The need to update the document. Because they have the 403(b), they can't use form 5305. American Funds Doc says American funds is custodian. VanGard doc says Vangard will hold assets. How does this paragraph play out in real life?

It is an owner only plan in a stock brokerage account. I need to keep track of Roth and Pretax.... and Profit sharing, too.

I'm going to be doing this for the first time. Has anyone done this before? Can you tell me anything about the steps involved?

Do you know what a management controlled group means?

Also, you can only impute disparity at 100 of TWB

Does anyone know a good way to find out when a Roth began on Relius?

Loan taken out in July of 2015. No payments were ever made. Is it deemed and taxable 12-31-15 or 1-1-16?

Ouch!

What does your doc say? Does your form say anything? The form we use tells them that a signature on this form revokes any previous deferral elections.

This has to be the oddest question I have ever asked. The law allowing banks to put into mortgages a "due on sale" clause, has an exception for trusts. This exception voids this clause when being transferred to a trust. Is a 401(k) Plan a trust for this purpose?

Is it legal to own precious metals in a solo -k? How about an IRA? If not, can anyone give me an idea where to find the regulation or law?

What if deferrals were refunded , so the maximum PS could be put in? Would the Refunded deferrals still count in the ADP test?

What happens if they give him a profit sharing of $33,050 and then do the ADP test?

Wonder if I am missing anything.....Document as always allowed a match. They want to put in a match for 2015. The document has prior ACP testing. I think these 2 things together mean the HCE's would get nothing. The NHCE's can receive a match though.

FWIW I think so.

FWIW I think it is July 1 entry. He has worked more than a year. And he has worked 1,000 hours in a measuring period. What do other people think?

Can anyone direct me to the latest IRS info on what amendments are allowed, midyear? I have a company that want to change from 12 months eligibility to 1 month eligibility.

Can he be his own trustee and do all of this?

Here are the things I see that I need to watch. Most of the real estate investors seem to have an LLC taxed as a sole Prop. 1. UBTI 2. Self dealing 3. Arms length transactions 4. Recurring contributions- Should I use a Money Purchase Plan? Is there anything else I need to watch out for? Is there a requirement that the owner of the business sponsoring the Plan, have income of some sort?

No. He cannot write a personal check. It has to be payroll deducted. Can he pay himself a bonus?