Message Boards Digest

July 18, 2019

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

CaliBen created a topic in Form 5500

Organization Uses Independent Contractors (No Employees) -- Form 5500 Required if Benefits Made Available?

Organization has no employees, only 1099 contractors. The contractors can purchase vision, dental and disability insurance through the organization. Is the organization required to file a 5500?
Number of replies posted  3 replies      Number of times viewed  44 views      Add Reply

KimberlyC created a topic in 457 Plans

W-2 Reporting of Benefits Under Grandfathered Section 457 Plans

Certain unfunded deferred compensation plans maintained by non-governmental tax-exempt organizations (in existence on and not modified after August 16, 1986) are grandfathered and are not subject to Section 457(b) limits. Does anyone know how deferrals under these grandfathered plans are reported on Form W-2? is it still Code G of Box 12 or another Box and/or Code? Including grandfathered amounts in Box 12, Code G may cause an apparent exceeding of the 457 deferral limits.
Number of replies posted  1 reply      Number of times viewed  16 views      Add Reply

cpc0506 created a topic in 401(k) Plans

401(k) to SIMPLE 401(k): Successor Plan Problem?

Is a SIMPLE 401(k) considered a successor plan to a 401(k) plan? We have a client who wants to terminate their 401(k) plan as of 12/3/19 and start a simple 401(k) plan as of 1/1/20. Is this allowable?
Number of replies posted  1 reply      Number of times viewed  32 views      Add Reply

tja created a topic in Multiemployer Plans

Exclude Retirees When Distributing an SPD?

Is anyone aware of any authority that would support a view that a defined benefit multiemployer pension plan could exclude retirees from a mass distribution of an updated SPD? Even though the language in 29 CFR section 2520.104b-2 is somewhat inconsistent, it appears that retirees in pay status are not excluded from a mass distribution of an updated SPD.
Number of replies posted  1 reply      Number of times viewed  15 views      Add Reply

Below Ground created a topic in Correction of Plan Defects

User Fee for DOL Filing for Correction of Late Deferrals?

I understand that, if I want to make a VCP Filing for late deferral deposits, Form 8950 is used when filing with the IRS, and a User Fee applies. Is it true that filing this same VCP filing with the DOL has no User Fee and Form 8950 does not apply?
Number of replies posted  0 replies      Number of times viewed  22 views      Add Reply, Inc.
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