Andy the Actuary Posted May 25, 2010 Posted May 25, 2010 A plan has a zillion dollars of FSCOB and no PFB. FT/Assets 2010 > 80%. Any problem with the getting a signed election now (in 2010) to apply the FSCOB to reduce 2011 quarterlies? The material provided and the opinions expressed in this post are for general informational purposes only and should not be used or relied upon as the basis for any action or inaction. You should obtain appropriate tax, legal, or other professional advice.
My 2 cents Posted May 26, 2010 Posted May 26, 2010 The final regs say that you can't make an election now to use Carryover Balance in a future plan year (except for standing elections, which are useless in trying to cover quarterly contributions until the IRS allows standing elections to cover quarterly contributions). Always check with your actuary first!
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