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Posted

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, ERPA

Two wrongs don't make a right, but three rights make a left.

  • BG5150 changed the title to Will name change of 1 letter trigger warning or error?
Posted

Very similar issue with one of our plans and yes we did complete question 4. 

4 out of 3 people struggle with math

Posted

What's the harm in answering line 4? Why wouldn't you do it?

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

Posted

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.

Posted

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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