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Showing results for tags '5500sf headcount'.
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Safe Harbor 401k Plan with Cross Tested Profit Sharing There are 2 Participants at 1/1/2023: 1 HCE and 1 NHCE The NHCE terminates in 2023 with 1000+ hours credited (i.e. no "Break-in-service"), is 40% Vested, however, has $0.00 account balances (and therefore $0.00 vested account balances) in all sources (never contributed 401k therefore never received SHMatch, and no PS allocated in years participated). Q: Is the NHCE counted on Form 5500SF as of 12/31/2023? It is a Relius document and Forfeitures definition includes the "deemed" to have been paid... However, if a Profit Sharing or Forfeitures had been allocated in 2023, the NHCE would have shared in them. Forfeiture definition goes on to say irrespective of the above, Forfeiture will not occur until the end of the first Plan Year for which the Participant is not eligible to share in the allocation of Forfeitures. Q: does this force counting the NHCE as of 12/31/2023? Q: Is the NHCE counted simply because no Break-in-service as of 12/31/2023? Thank you!