BG5150 Posted June 10, 2021 Posted June 10, 2021 Company name Two River Phrenologists On 5500 and plan docs over the years (for whatever reason) it was listed as Two Rivers Phrenology. The Plan has an identical naming issue. We are correcting the plan docs going forward, and will make the change on the 2020 5500. Will I have to complete question 4 about the name change? Or will it not matter, that one little letter? QKA, QPA, CPC, ERPATwo wrongs don't make a right, but three rights make a left.
ratherbereading Posted June 10, 2021 Posted June 10, 2021 Very similar issue with one of our plans and yes we did complete question 4. 4 out of 3 people struggle with math
C. B. Zeller Posted June 11, 2021 Posted June 11, 2021 What's the harm in answering line 4? Why wouldn't you do it? Bill Presson 1 Free advice is worth what you paid for it. Do not rely on the information provided in this post for any purpose, including (but not limited to): tax planning, compliance with ERISA or the IRC, investing or other forms of fortune-telling, bird identification, relationship advice, or spiritual guidance. Corey B. Zeller, MSEA, CPC, QPA, QKA Preferred Pension Planning Corp.corey@pppc.co
ESOPMomma Posted June 11, 2021 Posted June 11, 2021 Isn't it more than "one little letter?" What about "Phrenologists" vs "Phrenology?" I don't see the issue with filling out line 4 on the 5500... best to just do it and clear it all up.
Jakyasar Posted June 11, 2021 Posted June 11, 2021 I had a discussion about item 4 with a TPA who stated that not all sections to be completed in 4, just what is corrected? Any comments? I believe all have to completed no matter what the correction is. I agree that 4 should be completed. Sometimes did not matter as in the past Clients received letters from the IRS asking about where the filing was with the uncorrected info. 4 was clearly reflecting the corrected info. Thanks
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