Election Forms

[Guest cconnell]

Are their any rulings that specifically state that an employer is required to maintain enrollment forms for it's employees regardless of participation? I know it makes sense in the event of an audit, but is there a ruling that states this?

Thank You,

CConnell

[JanetM]

Sort of. If you do use paper forms for things they are going to be looked at during an audit. If you have paperless enrollments and other transactions there is nothing to keep.

[austin3515]

I think the question more specifally relates to participants NOT contributing, and no there is no law that says you need to get an election form back from them indicating they elect to make 0% in contributions.

But as you mentioned, it is recommended.

[PLAN MAN]

Keeping records of employees who returned enrollment forms with 0% salary deferral or checked a box indicating they did not want to participate in the plan is something to keep in mind if you ever decide to add automatic enrollment to the plan.

[BG5150]

It's a good idea also to prevent a "you never told me I could defer" situation.