"I have a 401k plan that is TOP HEAVY and makes a PS contribution (new comparability). The Service Requirement is 1 year, 1000 hrs, age 19 to enter the 401k plan but for the Profit Sharing has a Age 21 requirement. I have a NHCE (non-highly compensated employee) that is age 20 so they are entitled to the 3% Top Heavy Contribution, but the client wants to give him a 5% contribution since he is giving all other NHCEs 5% for the Profit Sharing. Can I do this? I am just concerned about the age requirement."

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"I'm looking for some clarification on final 5500 for Terminating plans. Is the final 5500 based on the Plan Termination date of final asset exist date? We received a Plan for Termination in 2022 and the Term date was 8/31/2022 and the asset exist date was 12/26/2023. Post the asset exist date there was a residual amount that got posted on 01/02/2024 since the plan had assets in 2023 the final 5500 will be for 2023 right? and the residual amount can be adjusted in 2023?"

"Can I switch from 5500-SF to 5500-EZ if a one-participant plan has been filing 5500-SF for several years, but it seems that it should have been filing 5500-EZ instead? To clarify -- as a single owner LLC I have been filing 5500-SF since 2015 (don't remember why I started with 5500-SF instead of 5500-EZ, but at the time that seemed the right form), and now in 2024 accidentally I read that I should have been fining 5500-EZ instead since 2021. Which form should I file in 2024 and should I do anything about the prior filings? Is it possible to hide all of my 5500-SF filings since 2015 from the public, which I just learned are visible to all?"

"In late 2023 we calculated the 2023 profit sharing contribution allocation for a 401k plan. Only 4 participants shared in it (1 HCE). The profit sharing is optional and is allocated on a cross-tested basis, each participant as its own allocation group. The PS amount for each participant was communicated to each participant. The NHCE's allocation was more than the minimum needed to pass testing. Early 2024, one of the NHCEs is leaving the company. Can the employer change only his allocation to a lower amount (enough to still pass testing)? Since the employer previously informed the participants of their 2023 PS allocation, is it a problem to go back and change that allocation to a lower amount just for this specific NHCE?"

"I have a prospective client who received a $500K payment in 2024 for signing a 'non-compete agreement'. This will be reported on a 1099. Can income for signing a non-complete be used as 'earned income' for pension purposes? This person has other self-employment income that can be used, but wondering if they could also use the $500k in 2024?"