Want to amend retroactively to ad Occtober 1 entry

[Jim Chad]

I want to amend a plan now to change from dual entry to quarterly entry effective 10-1-08. We talked about doing this last summer so a partner could come in to the Plan when he bought into the law practice. Over the summer we talked about many things including letting in his wife who was just starting as office manager.

In August, when I heard never mind, just leave it the way it is. I left the whole Plan the way it is. He meant leave eligibility at 1 year. But go ahead and do what we discussed before and change entry dates to quarterly. This way the new partner will be in the Plan 10-1-08 instead of 1-1-09. By the way the new partner did defer $15,500 from his December bonus and made a enough money 4th quarter to want to put in a sizable discretionary non-elective.

Is there anyway I can amend now to add 10-1-08 as a plan entry date? We will be bringing in 1 HCE and 1 NHCE.

BTW the doc is VS with an adoption agreement.

[J Simmons]

Did the NHCE make any deferrals? Did the NHCE know of the opportunity?

[J Simmons]

Jim,

Maybe Rev Proc 2008-50, APPENDIX B, 2.07(3) Correction by Amendment would be of help to you.

[Jim Chad]

Two Good Points for me to look at:

Thanks, John.