PS

Hi, Plan sponsor is yet to start the termination process however they have questions regarding profit sharing and safe harbor. There is a balance of $3000 in the forfeiture account. Are they required to make a profit sharing contribution for 2025 plan year (10/30/2025 - or whatever date is prior to that for termination of the plan) They only had payroll for the month of December 2024- they are anticipating that the final 3% safe harbor for 2025 plan year would only be approx. $1500. is that true? They haven't determined the termination date yet.

Hi, Plan is terminating and the termination date is 07/31/2025. The Plan sponsor wants to do a annual employer match true -up contribution which usually occurs in Jan for the pervious year. They calculate the match throughout the year on a pay-check-by paycheck basis. 1) Since the plan is terminating I believe they should calculate and contribute to the plan for the period Jan 01-July 31 it will be for a short plan year correct? 2) Should they wait until next year to do the contribution or can they do the calculation now and contribute?

Hi, The plan termination date is 06/30/2025 however is it okay that the plan details report notes 12/31/2025 as the testing end date?

Hi, Terminating plan has a 3(12) agreement and the plan sponsor would like to know if they require to submit any special document to disable this service . I've never come across 3(21) agreement does the plan sponsor need to complete any special requirement?

Thank you

Hi, 8 participants had 415(C) excess since they already rolled the funds into the acquiring company plan the correction could not take place at the terminated plan. The new RK has sent a check payable to the terminated plan. Aren't 415 violation able to to be processed/returned from any plan or should we have the check deposited into the terminated plan and then cut a check to the participants ( excess amount)?

Hi, 8 participants had 415(C) excess since they already rolled the funds into the acquiring company plan the correction could not take place at the terminated plan. The new RK has sent a check payable to the terminated plan. Aren't 415 violation able to to be processed/returned from any plan or should we have the check deposited into the terminated plan and then cut a check to the participants ( excess amount)?

Can an employee make a deferral into the plan with money received as severance before the plan termination date or can it be made even after the termination date? Also, does the employer has to put in a match (Safe Harbor) on the severance pay?

Hi, Plan that is terminating the re-allocation of the forfeiture balance occurred after 180 days of the participants initial distribution, is it mandatory the participants should receive a second communication along with the special tax notice since the participants are receiving the additional money post 180 days of their initial distribution? Is there any resource of information can be shared in reference to the special tax notice?

They will need to have the amendment completed and then proceed with the plan termination or can they do this simultaneously? by when should they have the GFA completed? is there a deadline?

Hi, For plans that are terminating should the Plan sponsor complete the good faith amendment ( SECURE 2.0 and CARES)? what if they have not done the amendment? Thank you.

Thank you!

Hi, I have a plan situation one of the plan that got terminated back in 2021 has now received a small $ amount due to SDB earrings. Is it common to see SDB earrings getting posted into a terminated account? should these funds be even posted into a terminated plan? Also, since there is a posting of $83 into the terminated plan will the plan sponsor require to amended the 5500? Thank you.

We have received two plans for termination. One is PR qualified only and another one is a dual-qualified in US and PR. I'm a little confused on you next question it says 401k or 1081.01(e) isn't both the same or rather 1081.01(e) also known as 401(k)?. The dual-qualified plan does have 2 other DC plans however they are terminating the other two plan as well.

Hi, As per the new DOL regulatory the requirement for annuities has been loosed is there thing that can be shared what those requirements are? any DOL guidelines links that any one share?