Egold

Thank You

I have an overfunded DB plan. Distributions will be made in October. Two Participants are over 73 and are required to take RMD. If all participants choose a lump sum distribution, are the excess assets allocated to the PVAB minus the value of the RMD, or are the excess assets allocated to each participant's PVAB? In the second case, the over 73 participants would receive a larger share of excess assets.

Are plans allowed to pay annual service fees? Are plans allowed to pay plan termination fees? Are there any fees that the plan is not allowed to pay?

Sorry, I made a mistake. I meant over 73

A plan is terminating in 2025. If a participant is over 65, do they have a Required Minimum Distribution (RMD)? What if funds are rolled over into a 401 (k) plan?

2025

If participant terminated in 2024, but did not receive distribution until 2025 (beginning of year) Do you file a 1099r for 2024 or 2025?

How do you handle RMD in a defined benefit plan?

I am having the same problem. Did anyone help you resovle the problem

Participant terminated employment in 2022. Employer did not make the 2022 contribution until 9/2023 (terminated participant did not receive her contribution) I revised the 2022 valuation to include terminated participants share of the 2022 contribution, plus share of 2023 earnings. It is now 2024, participant wants a cash distribution. I understand that 20% must be withheld from distribution. Do I use 2023 945 to forward taxes to IRS or wait for the 2024 forms. Is it too late to do 2023 1099R? Or is there another way to handle this situation. Thank you for your help

Participant under 591/2 wants her $6500 cash from a profit sharing plan. How much must be withheld by the plan administrator (is it still 20%) Is the withheld amount sent to the IRS with form 945?

Does anyone have a form for the beneficiary. He must select form of payment from a DB plan,

Thank you for your help

I was preparing the termination package for the terminated participant. She died before I sent her the papers. The plan allows a lump sum distribution. Who receives the 1099R. The participant or the spouse?