One person 401(k) plan wanted to move investment companies in 2010, was advised he had to terminate plan and adopt a new plan. Participant was less than 59-1/2 and no distributable event. Assets were rolled over over to IRA and never withdrawn. Still in the IRA, so apparently no tax consequences. New plan is terminating in 2018. Owner wants to fix the failure in the first plan. What's the fix? Can he ride the statute of limitations and do nothing? Appreciate any insights! Prior discussion here: https://benefitslink.com/boards/index.php?/topic/56188-successor-401k-plans-correction-thoughts/

Attorney has her own plan, no employees. CPA has set up payroll for the end of each month, but plans to deposit 401(k) each month prior to the payroll date (e.g., the 20th). Is that allowed?

What are the penalties of starting a Qualified Plan in a year when a SIMPLE IRA is in existence? I know one is not allowed to terminate a SIMPLE-IRA mid-year, but what if no one elects to make contributions to it? In 2017, on advice of prior accountant, a two-employee shop (each is a 50% owner) set up a SIMPLE IRA for 2017 and continued for 2018. Contributions for 2017 were funded. No contributions have been made for 2018. The two owners will be the only eligible employees of the SIMPLE IRA in 2018. They're having a much better year than expected. The new accountant would like to have them start a 401(k) plan with a profit sharing PS component in order to maximize the deduction. If they establish such a 401(k)for 2018, what's the effect on the following: [1] The existing IRAs (under the SIMPLE IRA program) that hold only the 2017 contributions. [2] The SIMPLE-IRA program if no contributions are made for 2018. [3] The SIMPLE IRA program for 2018 if contributions are made for 2018. [4] The newly formed 401(k) Profit sharing plan. I know one is not allowed to have a SIMPLE-IRA and tax-qualified plan in the same year, but if the penalty is simply to remove the $0 of 2018 contributions along with the $0 of earnings, is that really a meaningful penalty?

The proposed regulations for the affiliated service group rules exclude corporations, other than professional service corporations, from the definition of a first service organization. I can't find any guidance on whether an S corporation is a corporation for this purpose.

A former employee/participant requested a rollover be made to their new plan on the Great West platform. They filled out the paperwork with the address/etc. at GW. However, when the former John Hancock platform issued the rollover check, they mailed it to the former employer. The former employer in turn immediately sent the check to the participant. This all was done over a period of less than 3 weeks. The former participant is now "up in arms" about the check not being sent directly to the rollover address, and she's hounding the former employer. Someone told her that it should be spelled out in the SPD. I thought that was an administrative call. Any thoughts?

An individual cannot contribute to an HSA once they are enrolled in Medicare. But if they enroll for Medicare on June 1, could they have contributed to an HSA for the first 5 months of the year in question? If yes, how much could they have contributed? Is the maximum prorated for the 5 month period?

One of the owners in a business (not yet 59 1/2) has already gotten all the plan assets he can via hardship distributions. Now he wants access to more, but was told that he can't due to the terms of the plan. So, now he's decided to "terminate employment." The plan is that he will eventually be rehired. Of course, there's no way we can sanction this attempt to circumvent the plan provisions. Where do I look for guidance on this?

An alternate payee would like an application prepared so that they can start receiving their benefit. Plan Sponsor is OK with this if the alternate payee pays for the application to be prepared.