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Message Boards Digest

July 12, 2018

Here are the most recently added topics on the BenefitsLink Message Boards:

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Gilmore created a topic in Form 5500

Intranet Posting of 5500 Information

To satisfy the requirement to post 5500 information to the plan sponsor's intranet, must the Form 5500 AND SAR be posted, or just the 5500, or just the SAR?
Number of replies posted  7 replies      Number of times viewed  73 views      Add Reply
 
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B21 created a topic in IRAs and Roth IRAs

Estate is IRA Beneficiary; RMD Aspects?

I have a situation where a client recently died. Her estate is the named beneficiary of her IRA. Her will created a trust for estate assets. Can the beneficiaries of the trust be considered as designated beneficiaries for IRA RMD purposes?
Number of replies posted  0 replies      Number of times viewed  16 views      Add Reply
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kwalified created a topic in IRAs and Roth IRAs

Convert Traditional IRA to One Roth or to Multiple Roths?

A 59-year-old person has a traditional IRA and is interested in converting to one Roth or a few Roths. Due to her age, would this be advisable? If so, would multiple Roths be necessary?
Number of replies posted  0 replies      Number of times viewed  15 views      Add Reply
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K-t-F created a topic in 401(k) Plans

Employee Wants to Cease Contributing and Pull Money from Plan

An employee who is a participant in the plan (SH Match 401(k)) simply doesn't want to play anymore. He wants to take his money and invest it somewhere else, away from the plan. No distributable event. Not 59-1/2. Not disabled. The employee is out of luck, correct? Money has to stay put.
Number of replies posted  4 replies      Number of times viewed  81 views      Add Reply
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ERISAAPPLE created a topic in Defined Benefit Plans, Including Cash Balance

Correct DB Plan's 415 Failure using the Plan Sponsor's DC Plan?

If a DB plan fails 415, is there any way to correct that failure in a DC plan sponsored by the same employer?
Number of replies posted  3 replies      Number of times viewed  42 views      Add Reply
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Earl created a topic in 401(k) Plans

Otherwise Excludible and TH

Plan has 21 & 12 for PS and SH Match, but 3 months for 401k. If the owner gets Profit Sharing, does that eliminate the SH/TH exemption for the OE component plan (so the OE employees will need to get TH min is SH is less than 3% of pay)?
Number of replies posted  9 replies      Number of times viewed  74 views      Add Reply
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KevinMc created a topic in 401(k) Plans

20% Federal Withholding When Distribution Less Than $1,000?

Is the federal tax withholding of 20% mandatory from a 401(k) distribution less than $1,000?
Number of replies posted  3 replies      Number of times viewed  44 views      Add Reply
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rr_sphr created a topic in Cafeteria Plans

Medical FSA -- Unsubstantiated Debit Card Claim in Prior Plan Year for Terminated Employee

IRS Memo 201413006 somewhat speaks to this, but it doesn't seem to address an employee who terminated employment in the prior year. Debit card was charged in plan year 2017 for $159.26. Participant terminated employment 7/14/17 and received her 2017 W-2 at the beginning of 2018. Third party FSA admin just notified us at the end of the claim period and has stated that they have sent notices and contacted the individual 3 times and suspended the debit card as required by the Memo above. But it looks like there were no other claims to offset and there are no future wages in 2018 to offset. So the $159.26 would become income in 2018, right? And the employer would just have to eat the both sides (employee and employer) of the (albeit small) FICA/FUTA amounts? And the former employee would receive a W-2 from the employer for 2018?
Number of replies posted  0 replies      Number of times viewed  15 views      Add Reply
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thepensionmaven created a topic in Form 5500

Form 5500 Needed? Sole Proprietor with a Part-Time Employee

401(k) plan started in 2007. Sole proprietor hired her sister as a part-time employee (under 1,000 hours per year). Recordkeeper says she didn't need 5500s because the employee is excluded. Obviously, if the employee is excludable, no 5500s until investment value greater than $250,000. I believe excludables must be counted.
Number of replies posted  1 reply      Number of times viewed  33 views      Add Reply
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