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Guest doh5557
Posted

have a plan that incorrectly allowed hardships to come from incorrect sources in the plan.

THe amount that came from the incorrect source is less than $30, in total. With each participant in most cases having less than $1 come from the qnec source

Most of the hardship came from the deferral source.

How do we correct it? Is the fact that the amount from the incorrect source is small a factor ?

Posted

I would do a source switch on the transaction so the entire amount came from the Deferral Source. It's a simple 'recordkeeping' technique. You should ensure that the hardship availability amount was not miscalculated.

Good Luck!

CPC, QPA, QKA, TGPC, ERPA

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