cbendertpa23
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A new client has terminated and distributed the assets in a previous 401k plan. Does the 12 month rule begin once the assets have been distributed or once the final 5500 is filed?
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Thanks for the assistance. We later found out that the child is actually a 25% owner.
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Working with an advisor who says he has a solo 401k with an owner and their child both participating. I was under the assumption that only an owner and spouse could participate in a solo-k. Are there any exceptions that allow children to participate in a solo-k?
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Reducing a Safe Harbor Nonelective mid year
cbendertpa23 replied to cbendertpa23's topic in 401(k) Plans
Thanks Lou. Yes, the document and safe harbor notice states that the employer will fund an amount equal to 5%. No wording on "at least 3%". -
We are taking over a client that is currently funding a 5% non-elective safe harbor. Can they reduce this to 3% mid-year without having to do ADP/ACP testing?