Message Boards Digest

April 1, 2021

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

Karen McIver created a topic in Retirement Plans in General

Confused About Appropriate Entry Date for Plan with Two-Year Service Requirement

"I am having a hard time finding rules on the two year of service eligibility requirement. I thought you could not have dual entry dates because someone could actually be excluded from the plan for more than two years. Example: Joe is hired 7/15/2018. He meets eligibility 7/15/2020. Does he enter the plan on 1/1/2021 or can there only be one entry date for the beginning of the plan year? Am I confusing rules with 1 year of service and more than 18 months?"

2 replies   |    28 views   |    Add Reply

thepensionmaven created a topic in Form 5500

Form 5500-SF Filed One Day Late

"Client forgot to file form 5558 yesterday and was told by accountant o file one today, send overnight and also to get 'into gear' and file Form 5500-SF today and check off the box for Form 5558. I know the Ogden UT IRS office is backed up, but what are the odds this one would slip by with no penalty? I mean, I've never heard of a penalty for a Form 5500 being one day late."

6 replies   |    29 views   |    Add Reply

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