Jakyasar Posted May 9, 2024 Posted May 9, 2024 Hi Calendar 401k/SH/PS plan with 21/1 and dual entry as eligibility EE DOH 1/1/2023. Apparently deferred during 2023 (no idea when started deferring). Just got an amendment signed in 2024 stating as the employee deferred during 2023, for this particular employee eligibility is waived effective 1/1/2023. Does this sound right? Thank you
justanotheradmin Posted May 9, 2024 Posted May 9, 2024 Sounds correct if it is a retroactive corrective amendment under EPCRS rev proc 2021-30 which does allow correction for early entry via amendment if the correct parameters are met. But there are a lot of ifs there. Luke Bailey and Bill Presson 2 I'm a stranger on the internet. Nothing I write is tax or legal advice. I'd like a witty saying here, but I don't have any. When in doubt, what does the plan document say?
jsample Posted May 10, 2024 Posted May 10, 2024 One of the "ifs", as long as he is a NHCE. Luke Bailey 1
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