BG5150 Posted March 12, 2020 Posted March 12, 2020 Say you had $100 of interest to spread out over like 250 people for a late deferral in 2017. Many of the allocations are under a buck, and in some cases like $0.07. What would you do for the people who terminated and took their money? There are quite a number of these folks. To me, it's pointless to allocate 50 cents (or even 3 bucks) to someone who left so long ago. The funds would probably just get liquidated as fees anyway. QKA, QPA, CPC, ERPATwo wrongs don't make a right, but three rights make a left.
Mike Preston Posted March 13, 2020 Posted March 13, 2020 EPCRS says, IIRC, you just ignore them. Bill Presson 1
BG5150 Posted March 13, 2020 Author Posted March 13, 2020 Does EPCRS address late deferrals? QKA, QPA, CPC, ERPATwo wrongs don't make a right, but three rights make a left.
Mike Preston Posted March 13, 2020 Posted March 13, 2020 10 hours ago, BG5150 said: Does EPCRS address late deferrals? Not specifically, but in this case the late deferrals is the cause of the underdistributions, which is addressed, I think.
Eve Sav Posted March 16, 2020 Posted March 16, 2020 You still need to deposit the lost earnings on the late deferrals in total; pay the excise tax if you are not filing under VFC, and allocate the total lost earnings to those that were effected inn 2017 and are still employed.
BG5150 Posted March 16, 2020 Author Posted March 16, 2020 Still employed? Or still with an account? QKA, QPA, CPC, ERPATwo wrongs don't make a right, but three rights make a left.
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