Blinky the 3-eyed Fish Posted March 28, 2017 Posted March 28, 2017 Some of you many have thought this fish was dead, but I live on! An HCE terminates and rolls over the money in 2016. The plan then fails the ADP test that requires refunds. I believe the correct method would be to issue a corrected 2016 1099-R to show the taxable piece and the piece that could be rolled over. The problem is the recordkeeper won't issue a corrected 1099-R. What's the solution here? "What's in the big salad?" "Big lettuce, big carrots, tomatoes like volleyballs."
Mike Preston Posted March 28, 2017 Posted March 28, 2017 Fire the recordkeeper? Hire somebody in our industry to file a corrected 1099-R? The latter may be impossible if the TIN on the 1099-R is not the plan sponsor.
Lou S. Posted March 28, 2017 Posted March 28, 2017 send the record keeper a copy of the instructions to Form 1099-R highlighting the section entitled "Failing the ADP Test or ACP Test after a total distribution" It is on Page 7. https://www.irs.gov/pub/irs-pdf/i1099r.pdf
BG5150 Posted March 29, 2017 Posted March 29, 2017 1 hour ago, Tom Poje said: a Blinky the 3 eyed fish sighting! Certainly has been a while! QKA, QPA, CPC, ERPATwo wrongs don't make a right, but three rights make a left.
K2retire Posted March 29, 2017 Posted March 29, 2017 3 hours ago, Tom Poje said: a Blinky the 3 eyed fish sighting! Welcome back!
Blinky the 3-eyed Fish Posted March 29, 2017 Author Posted March 29, 2017 Lou, thanks, that was very helpful. Thanks everyone for welcoming me back, but I still might stay in the deep end and not surface too often. We will see what time allows. "What's in the big salad?" "Big lettuce, big carrots, tomatoes like volleyballs."
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