Jess C

We're having a good conversation around if this could potentially be discriminatory or anti-cutback, which leads to more questions about eligibility and how that's written into the document.

Question came up, if an employer wishes to adopt a profit sharing plan in 2021 effective 12/31/2020, can they apply a last day rule to the 2020 profit sharing allocation?

The form they mentioned was 8915-B, which is what they use for disaster distribution resolution. It captures both the distribution and any repayments. It was suggested that a new version of this form may come out.

Hi there, we are having a debate about the repayments of COVID distributions back into the plan, and if they should be coded as normal (pre-tax) or as after-tax. I understand that ROTH has to be accounted for separately. I believe that since the repayments offset the tax burden, the monies become pre-tax once again. I can't find anything specific on this, so I thought I'd come to this forum for guidance. Thanks in advance!