"I have a company that has 2 divisions, but they are operated as seperate companies. It's 100% a controlled group. Each of the companies has a 401(k) plan, but one company is an all-union shop, so no participants can be in the plan. Recently, a new, non-union member joined the company, so he would be the only participant. Is the best course of action to set up a division at the custodian to keep them separate? Does the new employee need to be kept separate from the original 401(k) plan?"

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"One of our clients asked what it would look like if they stopped doing 3% NE SH -- namely, whether there would be refunds, and how much. Is the simplest solution setting up a new plan and uploading the census and running the tests? I know what I'd do in Datair, but that's not an option right now."

"Plan Sponsor/Administrator files 2018 5500-SF one year late (not under DFVC). Ignores IRS penalty letters. IRS now is assessing a $70,000 penalty. No DOL penalty assessment yet. Can we file an amended 2018 5500 under DFVC and get the IRS penalty abated, or is it too late?"

"Do Plan Sponsors generally sign the Safe Harbor Notice, or do they just get sent out as applicable?"

"The following is a link to the SEC Clawback Regulations as published in tomorrow's (11/28/22) Federal Register (which take up a mere 67 pages in the typical Federal Register three-column print):"

https://www.govinfo.gov/content/pkg/FR-2022-11-28/pdf/2022-23757.pdf

 

"A fiscal year filer's report was due 10/31. Our office submits on the client's behalf. The client signed and returned the form timely, but the actual submission took place after 10/31. No penalty notices have been received. Is it possible to submit it again using DFVCP?"