Theresa

So we have and existing 401(k) plan that wants to add a SHNEC, this can not be done mid year? I assume it needs to be started January 1 for a calendar plan year.

Ok so we administer a SH 401(k) plan for a local dental practice. The dentist was the sole trustee of the plan and did all the payroll information and submission of funds weekly as his employees were paid, unfortunately he recently passed and now the office staff is trying to figure out how to submit the money that was withheld in February on behalf of the employees as it has not been done and now a bigger problem has arisen in that no deductions were taken in March for any employees. How can this be resolved? There is a current dentist that is in the process of trying to acquire the assets of the practice. Whew a mess for sure.

Yes it was a 3% nonelective contribution.

If an employer over contributed on the 3% safe harbor match for the 2018 plan year, they do have to have the excess taken out by April 15th?

It will be an asset purchase

We have a client who has maintained a plan for well over 30 years and has passed away as of last week, he was trustee on the plan. He owned a dental practice and now there is a dentist who was renting space from him and actually caring for his patients while he was ill, this dentist is going to be buying the assets of the practice. Question, can the plan be sold with the practice and the new dentist become the successor sponsor?