CJS07 Posted October 17, 2016 Posted October 17, 2016 If there are excess annual additions during 2015 & they are not distributed until September of 2016, does a 5330 need to be filed? Person with excess annual additions is the owner/partner who had a loss for the year and should not have deferred money to the Plan.
Doghouse Posted October 18, 2016 Posted October 18, 2016 There is no excise tax for a corrective refund of a 415 excess, to my knowledge. CJS07 1
My 2 cents Posted October 20, 2016 Posted October 20, 2016 Probably more of a plan qualification issue than a corporate tax issue. The individual's taxes could be impacted, though. Always check with your actuary first!
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