Trisports

I am told that if the Plan is under audit, the IRS can impose an increased higher excise tax than the statutory 15%. Has anyone had this happened? Thanks.

In order for a divorced spouse get a portion of an employee’s pension through a QDRO, wouldn’t they have to be married during the time the employee earned eligibility and credited service for the pension?

My understanding is that the retroactive amendment is available only for NHCE. Also, the retroactive amendment must be submitted through VCP for approval. We've always recommended to return the ineligible contributions to participants.

I'm trying to search for the official IRS guidance that provides that assets must be distributed within 12 months when a plan is terminated. On the IRS website, it provides it has to be distributed as soon as administratively feasible (generally within one year), but I need the actual Rev proc/official guidance. Any suggestions? Thanks.

Greetings, The plan sponsor is required to make a corrective contribution for the missed deferral opportunity. The EPCRS states that if the employee had not made any investment choices, the rate of return (ROR) under the plan can be used. It was my understanding that if the ROR is negative, the IRS underpayment rates must be used but I can't point the Rev. Anyone has the citing for this? Thanks.

It was my understanding that if the DB plan incorporates the limitations of sect 436(d)(2) by reference to the statute or regulations, or by adopting the sample amendment in Notice 2011-96, then no amendment would be required