Guest Jon Bachman Posted May 13, 2005 Posted May 13, 2005 Prior record keeper did not provide hardship amounts available for participants. The plan has gone through several service providers in the past. The plan sponsor is also unable to provide this information. Is there any way to process a hardship distribution without the exact amounts?
Archimage Posted May 13, 2005 Posted May 13, 2005 Obviously you can use the existing data you have since they converted to you. Ask the client if they can provide W-2 records for this participant for the last few years. This should get you started.
Alf Posted May 13, 2005 Posted May 13, 2005 If you can confirm that the employer never made a QNEC or QMAC, you are 2/3rds of the way there. Then, try and track down the actual 401(k) conts made based on W-2 records as Archimage stated in order to avoid the earnings issue.
Guest ircreader Posted May 13, 2005 Posted May 13, 2005 What type of plan is it? (ie - Hardship withdrawals aren't allowed from defined benefit plans.)
Recommended Posts
Create an account or sign in to comment
You need to be a member in order to leave a comment
Create an account
Sign up for a new account in our community. It's easy!
Register a new accountSign in
Already have an account? Sign in here.
Sign In Now