Wouldn't that be nice. We have seen two letters come back so far showing the tax period as 2/28/19 (for CALENDAR YEAR plans) and granting extension until 12/15. What's going on with the IRS anyway?

My question concerns 5500s. My client owns two companies (one has a DB plan, the other has a 401(k) plan) -- obviously a controlled group. He is the only employee in each company. Because they are two employers, do we need aggregate the assets for purposes of the $250K threshold for filing?

Client is terminating his profit sharing plan, and is retiring at current age of 75. We have calculated the RMD for his employer account. I assume (?) since the voluntary account has already been taxed, the only amounts he would be taxed on and would be subject to the RMD would be the earnings. He wants to roll over the voluntary contribution account. We're talking somewhere in the area of $250-$300K, which I don't believe he can roll over. If that's correct, what is to happen to the account?

Does anyone know if the ASP system is down today? This is awful.

Our group plan carrier messed up and failed to enroll an employee back in April when we submitted her application. However, because we didn't know that until September, she has been enrolled on our group HRA since April. So, we were/are out of compliance for the five months she was not covered by our group health plan. The carrier has since enrolled her onto our health plan as of 9/1, but our broker doesn't think they will consent to back-enrolling to April. If they don't, what do you think we should do? Fortunately, she didn't have any medical claims until September, but she did use her HRA for some dental/vision charges prior to September. We would like to make the employee whole, since it wasn't her fault, and ideally get back into compliance. Should we:

1. Report her HRA employer contributions as taxable for those five months she was not covered and give her a bonus to cover the taxes;
2. Reset her HRA active status date to 9/1 and give her a (taxable) bonus to cover the HRA contributions for those five months;
3. Not even bother asking the carrier to back-enroll her to April and just ignore the fact she was not covered by our group plan for five months (what are the risks here?);
4. Or something else?

Of course, if the carrier won't back-enroll her to April, we will also reimburse her premium payroll deductions.

Stopped working on May 10, 2017. I had an $18,000 401k loan. Defaulted this year. No earned income this year, just worker's compensation. How much taxes will I pay on the defaulted loan?

Can a Cash Balance Plan have a 6-year vesting schedule or is it just a 3-year cliff?

Question about the interaction between the 401(a)(17) limit and a 401(k) Plan that has one or more exclusions from its definition of compensation -- e.g., bonuses are excluded. In figuring out Plan compensation, which applies first -- the Plan’s definition or the 401(a)(17) limit? Example (for 2019, in which the 401(a)(17) limit is 280,000): Total compensation is $300,000, which includes a bonus of $10,000. If I first apply the Plan’s definition and then apply the limit: compensation is $290,000 and compensation for the Plan is the lesser of $290,000 and $280,000, so: $280,000. If I first apply the limit and then apply the Plan’s definition: compensation is the lesser of $300,000 and $280,000, so $280,000, then back out the bonus, so comp would be $270,000. I have looked for guidance/authority and the only thing I have found so far is one ASPPA Power Point that says apply the Plan’s definition first, then apply the limit, but no citation for that. Anyone?

We offer AFLAC as part of our benefit plan. The reps insist that all eligible employees must be seen and see all the products offered, sign an acknowledgement form or a waiver even if they don't want to make any changes or cancel coverage during open enrollment. True or False?