Loves401(k)

Thank you to all of you. I went through the plan doc again, and found the phrase " A participant who Terminates Service". So, I have my answer.

Someone was full time and has received discretionary non-elective contributions. They are now seasonal and working 300 hours per year. Plan doc says forfeit after 5 Breaks in Service. Would you forfeit while still employed?

I think I remember that, regarding disclosures, it is the Participant's responsibility to keep their address up to date. If a lost participant is found, I think I remember that we do not have to send past notices, SAR, 404, etc. But I cannot remember where I got this idea. What do you all think? Do we need to send past notices when we find someone?

I have a plan with several hundred people that allows Voluntary After-tax. I am trying to write a procedure for fixing payroll errors involving Voluntary After-tax Contributions. I have found good guidance for fixing when an election form is misplaced. But I cannot find any written guidance on what to do when an eligible employee was not given the opportunity to have Voluntary After-Tax contributions deducted from his check. What do you all think? Use the average of the NCE/NHCE group for the year?

I would think the distribution forms from that Plan would be your most reliable source for an answer.

And the IRS is auditing SARSEPs now. I have been hired to calculate the "fixes" on 2 of them.

If the company files an extension, they may have until September to make the contribution. And I know one advisor that tells his clients that for Safe Harbor Match, they have until December. Of course it cannot be deducted on the tax return for the prior year.

Rehire and no records to tell if they had a vested account balance. A company was bought years ago and their plan merged with our plan. We got good records for 2013. But nothing prior. If he had a vested account balance, he is immediately eligible on rehire. What would you do in these circumstances?

Are the stocks that were contributed publicly traded? Could this be an error in the way it was recorded rather than a Prohibited Transaction?