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Message Boards Digest

August 2, 2021

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

Luke Bailey created a topic in Correction of Plan Defects

Adoption of plan by new controlled group member = "plan amendment" under 1.401(a)(4)-11(g)?

"Corporation A has a calendar year profit sharing plan (elective deferrals not permitted) using ftwilliam nonstandardized plan document, which does not automatically include controlled group members and says controlled group members "must adopt" plan with approval of plan sponsor in order to participate. A became a member of a controlled group with B in 2020. B has no plan and A's plan will fail 410(b) for 2020 without including some of B's employees. If A adopts resolutions approving B's adoption of A's plan, and then B adopts it and B's employees share in allocations with A's, is that a 1.401(a)(4)-11(g) amendment? I'm thinking yes, but wanted to poll others on the topic. I don't know whether B extended its 2020 return, but I guess if it did SECURE Act addition of 401(b)(2) would also apply."
11 replies so far   |    Click Here to Add a Reply

thepensionmaven created a topic in Form 5500

Filing due on the business day after

"Granted, should know by now, but has been awhile. Received a call from an accountant on Friday, who files 5500s for his clients, asking whether 5500s due on the 31st if 31st is a weekend. Possibly, he was looking at today as the due date as 1040 is due the following business day, isn 't this the case for any IRS tax return. Not 100% certain, I advised file 5558 on the 31st to be safe. You know what "they" say about "assuming", though!"
1 reply so far   |    Click Here to Add a Reply

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