Guest moltengater Posted August 25, 2005 Posted August 25, 2005 I have a 401(k) plan being audited and one of the IRS requests is a copy of the statement under 6057(e). Would a standard quarterly participant account statement which is provided to the ex-employee suffice? It contains their name and account balance and vested account balance and they continue to get the statement quarterly unitl such time as they take a distribution from the plan.
Mike Preston Posted August 26, 2005 Posted August 26, 2005 I think I'd go for it. If it is too late to issue a statement now that conforms to the timeframes indicated, then what else are you going to do? Besides, it sounds like as long as there isn't any forfeiture on death that the statement does, in fact, comply. Have you asked anybody to review the quarterlies to see if they might comply with 6057(e)?
Guest moltengater Posted August 26, 2005 Posted August 26, 2005 No, but I suppose the agent will let me know. I think the statement is good to go.
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