Regional Vice President of Sales The Retirement Plan Company
|
Defined Benefit Combo Cash Balance Compliance Consultant Loren D. Stark Company (LDSCO)
|
AimPoint Pension
|
Loan & Distribution Specialist AimPoint Pension
|
Compass
|
Bates & Company, Inc.
|
“BenefitsLink continues to be the most valuable resource we have at the firm.”
-- An attorney subscriber
Text of IRS Project Questionnaire: Reporting of 4971(a) Excise Tax by 401(k) Plans (PDF)
Internal Revenue Service [IRS] [Official Guidance] Sept. 1, 2015 "Our records indicate you sponsor a 401(k) plan for the benefit of your employees and you filed a Form 5330 (Return of Excise Taxes Related to Employee Benefit Plans) reporting excise tax under Internal Revenue Code (IRC) section 4971(a). This appears to be in error as 401(k) plans are not subject to the minimum funding requirements and, therefore, would not owe this type of excise tax.... It is important to us that you report the correct amount of excise tax due for transactions involving your retirement plan. Please review your records including the information regarding excise taxes and have someone knowledgeable about your above referenced plan provide the following information." |
Please click here to report this link if it is broken (for example, if you see a "404 File Not Found" error message after you click on the linked news item's title). |
An important word about authorship: BenefitsLink® created this link to the news item, but we are not the news item's author (unless expressly shown above). |