New Plan (2013) Form 5500

[Guest cands2002]

Brand new plan with effective date of 1/1/2013, elective deferral and safe harbor matching contributions effective 1/1/2014. Employer planned to make a profit sharing contribution for the 2013, however, they decided to give the employees a choice of a bonus or profit sharing contribution to their 401(k) profit sharing plan. No surprise that the employees chose the bonus.

Unfortunately, they did not inform our office (the TPA) of this decision until after we filed the Form 5558 for the 2013 plan year.

My question is this:

Since we have already filed the 2013 Form 5558, should we file the 2013 Form 5500-SF even though the plan didn't have any money in 2013? Some of my colleagues mentioned filing the Form 5500-SF with a $0 beginning and ending balance.

[John Feldt ERPA CPC QPA]

I agree with filing with $0 begin/end. The plan exists right - it was executed?

[Guest cands2002]

Yes, the plan was executed in 2013. They are currently depositing deferrals and safe harbor matching contribuitons for 2014; they just never made a PS contribution for 2013 and it was discretionary.

Thanks for your input.

[david rigby]

Are you saying the 5500 was filed with a non-zero asset but it really was zero?

[Guest cands2002]

The Form 5500 hasn't been filed, just the extension (form 5558).

[BG5150]

I've filed an all-zeroes 5500 in years past (but with a participant count) and haven't had any questions.

Yet.