"Scenario A SIMPLE IRA program is terminated as of 6/30/2024, new 401(k) plan effective 7/1/2024, calendar year plan. Assume all the requirements for a replacement plan under SECURE2.0 are met. The sponsor could do an employer contribution to the new plan, subject to the pro-rated 415 limits, correct? None of those contributions are combined for any limits with any employer contributions to the SIMPLE that I can tell. Is that correct?

"Scenario B Same fact pattern, but the new plan is effective 1/1/2024 for employer discretionary contributions, with the deferral and safe harbor pieces effective 7/1/2024. In this scenario I think the 415 limit wouldn't be prorated for the new plan, and any employer contributions to the SIMPLE would also be ignored.

"Additional question: Since 415 limits are per participant, and also include deferrals, would the employee contributions to the SIMPLE IRA in scenario B have to be considered when checking the 415 for the new plan? I think the answer is NO, even though it would mean in theory a participant could end up with total contribution to the 401(k) plan that is the full 415 amount AND an employer contribution, and they have their employee contribution to the SIMPLE for the first part of the year. So their total contributions in a single calendar year are higher than they would have been able to do if there had been only the SIMPLE or only the 401(k) plan for the year. What say all you lovely people?"

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"A single member plan owner asked if they can make a Voluntary contribution to the plan now (in 2024) for 2023. AND, can it then be converted into ROTH money.... They would be limited to the 415 limit or whatever their compensation is.... whichever is less, right? If the voluntary contribution is after tax going in, when converted do we withhold taxes on the conversion?"

"Seeking an expert to assist a US Tax court case on a few narrow issues dealing with S-ESOP prudent investing standards. Please reply privately."

"A CPA friend of mine asked to take over a plan that did not restate for cycle 3.... 401k/PS plan established in 2014 using PPA document. It is a pre-approved document. Calendar plan. Cycle 3 was due 7/31/2022 and not done. also, no interim amendments were done/provided. Reading RP 2021-30 for SCP and trying to determine if can be a SCP and also if within permitted time frame.

• Under section 4.1.b, looks like a plan document failure
• Under section 9.2, have up to 3 years to correct

"The restatement would be done using a pre-approved document and completed by end of February 2024. Am I correct or missing something here?"

"An individual is receiving some large NQ plan distributions for the next several years and is looking for a way to avoid some of the taxes. He could not use those payouts as a basis to establish a solo 401k plan for himself and defer into the plan on a tax deferred basis could he? I'm pretty sure the answer is no, but just checking around for him."