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BenefitsLink
Message Boards Digest

December 21, 2021

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

Jennifer D. created a topic in Form 5500

Client Never Should Have Filed 5500s

"A client brought us a one participant plan that filed 4 years worth of 5500s electronically late (they received bad advice that they could transmit them electronically and then do DFVCP instead of properly mailing them in). When I looked at the asset amounts, the plan never had over $250,000 in assets. This money was all cashed out this year and a final 5500 is due for 2021 regardless of the mistaken 'late' filings. My question is, to try to help this client, do we electronically file the final 5500 and then send the IRS a letter that they never should have filed in the first place until now, and here is the final, or should I just mail the final 5500 to the IRS with an explaining letter?"

No replies yet   |    Click Here to Add a Reply

Basically created a topic in Distributions and Loans, Other than QDROs

Participant Wants COVID Distribution

"Has the window for a COVID distribution totally closed?"

2 replies so far   |    Click Here to Add a Reply

BG5150 created a topic in Retirement Plans in General

In-Service Roth Rollovers -- 411(d)(6) Protected Benefit?

"Plan allows for in-plan Roth rollovers at any time as long as the funds are 100% vested. Is this a protected benefit?"

2 replies so far   |    Click Here to Add a Reply

Draper55 created a topic in Correction of Plan Defects

Confused About Correction of Excess 2020 Deferrals

"I am confused regarding correcting an excess 2020 deferral post-April 15. [1] Does being taxable in the year of deferral imply issuing a 2020 1099-R for the excess (if so, what would be the codes?), or instead making sure the 2020 return includes the excess in wages? [2] Do we wait and distribute the excess until otherwise distributable or distribute currently with earnings? If distributed currently, is the correct code E?"

No replies yet   |    Click Here to Add a Reply

pmacduff created a topic in 401(k) Plans

Distribution of Deferrals Under the Permissible Withdrawal Rules -- Count in ADP Test?

"If a participant opts out after auto enroll and deferrals are distributed under the permissible withdrawal rules, are those contributions included in the ADP test?"

1 reply so far   |    Click Here to Add a Reply

Here are the most recently posted jobs on EmployeeBenefitsJobs.com, a service of BenefitsLink:

View job as Director of Qualified Retirement Plans

Director of Qualified Retirement Plans  View details

Klaas Financial
Madison WI / Loves Park IL

View job as Plan Administrator for Non-Qualified Retirement Plans

Plan Administrator for Non-Qualified Retirement Plans  View details

Newport
Lake Mary FL / Dallas TX / Richmond VA / NC

View job as Senior Consultant, Non-Qualified Plans

Senior Consultant, Non-Qualified Plans  View details

Newport
Remote / Chicago IL / Lake Mary FL / Richmond VA / Dallas TX / Los Angeles CA

View job as Retirement Plan Consultant

Retirement Plan Consultant  View details

October Three Consulting LLC
Remote / Chicago IL / Irving TX / Jacksonville FL

View job as Benefit Specialist

Benefit Specialist  View details

October Three Consulting LLC
Remote / Chicago IL / Irving TX / Jacksonville FL

View job as Senior Implementations Relationship Manager

Senior Implementations Relationship Manager  View details

Vestwell
Remote / New York NY

View job as National Benefits Coordinator

National Benefits Coordinator  View details

AFGE
Washington DC

View job as Regional Director

Regional Director  View details

Employee Benefits Security Administration [EBSA]
Remote / Kansas City MO

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