"I have a client that went and set up a 401k for his real estate brokerage business with a 1/6/23 effective date. His intent was to set up a solo 401k. Using a DIY 401k vendor, he ended up setting up a full-blown safe harbor 401k w SHNEC (EACA provision, 25% SHNEC, cross-tested profit sharing). The only eligible employees are himself and his spouse. His minor children are employees of the corporation but excluded from the plan due to age 18 eligibility requirement. I would like to move the plan to a new vendor and drop the safe harbor provisions as they're unnecessary. He's fully funded the plan for 2023 for himself and his wife (maxed EE deferrals and the max ER contribution--25% of w2) Is there an issue with simply changing plan docs midyear to one without the safe harbor language? Is there some notice that must be sent to covered EE's?"

"Does anyone have an opinion on whether the SECURE 2.0 one-time $50,000 QCD to a split-interest entity counts against the overall $100,000 annual limit? Seems to me that the legislation doesn't clearly answer that question."

"Seeking opinions on this, and whether the Safe Harbor Notice (depending upon content) suffices. The Notice must be furnished in connection with the annual open election period, or if there is no such special period, within a 'reasonable time' before the beginning of each plan year; it notifies the Unenrolled Participant of their eligibility to participate in the plan, and the key benefits and rights under the plan, with a focus on employer contributions and vesting provisions, and provides such information in a prominent manner calculated to be understood by the average participant. So, if your normal Safe Harbor Notice merely directs the employee to the Summary Plan Description for Employer contributions other than the safe harbor contributions, then absent further IRS guidance specifying otherwise, it appears that the safe harbor notice couldn't satisfy the requirement. On the other hand, if the safe harbor notice either includes the employer contribution already, or is modified to do so, then it would seem the safe harbor notice could qualify, perhaps with a few other alterations as well. Any other thoughts/opinions? Are you planning to consolidate these two Notices, or keep them separate? I'm leaning toward separate as ultimately being cleaner and easier in the long run, not to mention that lots of plans aren't safe harbor, so would need a separate Notice anyway...."