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Showing results for tags 'Form 5310'.
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We have to file form 5310 for the following situation. Employer sponsors a DB and a Profit Sharing 401(k) Plans. Since inception in 2012 plans have been aggregated for testing purposes Employer is terminating the DB plan in 2016 and filing with the IRS for Determination letter (Form 5310) The plans are not safe harbor design and the DB has also non statutory class exclusions. Here are several questions: Must we answer the the questions on 5310 only for the DB (as if the other plan did not exists?. I do not see any question- excepting if the plan is part of an offset arrangement (which is not)- that leads me to think that I should take into consideration the # of participants, the 401k.m provisions, plan assets, employer contributions, etc. for the profit sharing plan. The form asks , though, if the Employer maintains another qualified plan. But the required statement requires only enough info to identify the plan The form asks if "the top heavy minimum accrual or contributions" have been made. They were made in the profit sharing plan. Should the question on form 5310 be answered YES (even though they were made in another plan?) Any help greatly appreciated Thanks in advance -
Employer filed a Form 5310 to terminate its 401(k) plan effective September 2014. Form 5310 was filed April 2015. During the review process, IRS agent analyzed the data in question 16 (6 year turnover rate / non vested participants). Agent now takes the position that there was a partial plan termination in 2009 and 2010 and is requesting that all partially vested, terminated participants in those years be retroactively fully vested. Assuming agent is correct that there was a partial plan termination in 2009 and 2010, would asserting a statute of limitations defense be viable? The 2009 and 2010 Form 5500s were both filed more than 3 years before the Form 5310 application. There is no question on the Form 5500-SFs that were filed asking about partial plan termination (i.e., the returns are accurate as filed).
