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Message Boards Digest

June 15, 2020

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

AJ North created a topic in 401(k) Plans

Paid Too Much Excise Tax Paid Using Form 5330; Can Get It Back?

"I have a client that did not remit some salary deferral contributions deducted from participant paychecks on a timely basis to the plan. The excise tax was calculated, Form 5330 filed, and the excise tax was paid. It was subsequently discovered that the excise tax paid to the IRS was overstated by several thousand dollars. Apparently close to half the late contributions were actually allocated to the plan on time. Has anyone dealt with this issue before? Can the excise tax over payment be recovered from the IRS?"

2 replies   |    68 views   |    Add Reply
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Riley Britton created a topic in 401(k) Plans

Erroneous Full Vesting of a Death Benefit -- Paid Too Much

"I have a large plan and the auditor caught the fact that a participant who died 2 months after he was terminated was paid out at 100%. Should have been paid out 40%. The 2 beneficiaries have already received their money. Any options other than asking for the non-vested portion back from the beneficiaries, which likely will not work at all?"

2 replies   |    41 views   |    Add Reply

Cynchbeast created a topic in Retirement Plans in General

How to Check on Status of a Form 5500-EZ Filing?

"Does anyone know of a phone number to call to see if a 5500-EZ was filed?"

1 reply   |    44 views   |    Add Reply

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