"We have a DB plan for a Sole Proprietor. His net Schedule C after FICA deductions but before deduction for contribution was $10,000. The contribution for 2019 was $9,293. Is this okay?"

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"If a firm is structured as an LLP, there are no shares. Can an LLP convert to a C Corporation? If an LLP owns a company, and they want to sell 30% to the employees via an ESOP, can they 'convert' the LLP to a C Corp so the owners can use a 1042? Is there any way to enable the owners to get 1042 treatment?"

"Participant takes a COVID loan on 9/1/20, and defers payments. When this is re-amortized for payments to begin after 1/1/21, does the loan ending date become 12/31/2025? The participant seems to think that he can go to 12/31/2026, but, truthfully, after reading the literature on COVID loans, I can safely say I have no idea!"

"I have a plan that did not make their 2018 profit sharing contribution until September 15, 2019. Under the correction methods, they're allowed to make that contribution, but they have to make sure that the 415 limits for 2019 still pass including the 2018 profit sharing amounts. I have one person who terminated in 2018 so does not have any 2019 compensation -- so their 415 limit would be exceeded for 2019. Because this is a new comparability formula with each participant in their own class and their contribution was necessary to pass the test in 2018, can this money be removed from this participant and put in suspense or reallocated?"

"Is it still accurate that if a plan has less than $250,000 in assets they don't have to file a Form 5500? I know I've heard it before, but I don't see it in the instructions for the forms."