bonavito44

I appreciate your point Grazi I dug a bit further and found an article by Jim Holland ” Defined Benefit Plan Termination with Funding Deficiency 3/15/18” that traces the history quite nicely Stan

We have a client that has terminated his DB plan in May 2020 It is a calendar year plan with sole owner as only participant 2019 minimum funding has not been made and there are no funds to make it CARES Act appears to delay 2019 minimum funding until January 1, 2021 Query: 1. How to complete 2019 Schedule SB: show minimum funding as $0? 2. Since the owner executed a majority owner’s waiver of accrued benefits to match the remaining assets, and the 2020 minimum funding is $0, does the 2019 contribution ever have to be made? A puzzlement for sure All suggestions are welcome except jumping off a bridge Stan

I suggest you contact Katten Muchin's Chicago office and consult with Mr. VEBA, Russell Greenblatt.

May I suggest an attorney by the name of Russell Greenblatt. He wrote the VEBA regs way back when. russell.greenblatt@kattenlaw.com 312.902.5200

If you can find out to whom the case is assigned then draft a transmittal letter explaining the “typo” and enclose the corrected forms with a photo of the original fee check if you cannot determine the reviwer’s name then just address the same as the original filing

I had occasion to call the DOL Office of the Chief Accountant regarding post-year transactions for a final Form 5500 -SF filing. A terminated plan had issued $159k of checks for a rollover that did not clear on 12/31/16, but did clear in January 2017. They advised me to file a final, showing a payable that offset the cash on hand, thus reducing the net assets to $0. They also recommended attaching a letter of explanation with the EFAST filing. They said I might get a warning, but not an error. EFAST filed yesterday, Received a warning, but the filing was accepted. So far so good. Hope this helps.