PensionPro Posted December 24, 2019 Posted December 24, 2019 Husband and wife one participant plan has made nondeductible contributions in several years. They still have over $100,000 of nondeductible contributions being carried forward to 2019. They want to retire in 2019. What happens to the nondeductible contributions that can no longer be carried forward, and what is the plan sponsor's excise tax obligation? Thanks! PensionPro, CPC, TGPC
Luke Bailey Posted December 26, 2019 Posted December 26, 2019 PensionPro, DB? DC? Nondeductible because of 404, 415? Luke Bailey Senior Counsel Clark Hill PLC 214-651-4572 (O) | LBailey@clarkhill.com 2600 Dallas Parkway Suite 600 Frisco, TX 75034
PensionPro Posted February 25, 2020 Author Posted February 25, 2020 On 12/26/2019 at 11:57 AM, Luke Bailey said: PensionPro, DB? DC? Nondeductible because of 404, 415? nondeductible because of 404 (just seeing this, sorry for the delayed response) PensionPro, CPC, TGPC
Luke Bailey Posted February 26, 2020 Posted February 26, 2020 22 hours ago, PensionPro said: nondeductible because of 404 (just seeing this, sorry for the delayed response) DB? DC? Luke Bailey Senior Counsel Clark Hill PLC 214-651-4572 (O) | LBailey@clarkhill.com 2600 Dallas Parkway Suite 600 Frisco, TX 75034
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