"In the past when assisting a client with a late deposit correction we would prepare a paper Form 5330 for the client to sign and mail to the IRS with a check for their excise tax payment. Now I understand that for most employers the 5330 will need to be filed electronically. We have received the proper credentials to use the IRS's IRIS filing site (and have already filed 2023 1099Rs.) Question is, how do we coordinate the client's payment of the excise tax with the e-filing of the 5330?"

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"We have a plan where only 1 person (100% owner) was a participant. The plan's assets never exceeded $250k, so no Form 5500 has been filed in the past. The plan terminated on 12/31/2023 and the owner took a full distribution in April of 2024. We'll file one Final Form 5500-EZ -- for 2024. I have a couple questions: [1] Since the owner technically has a termination date of 12/31/2023 (plan's termination date), is 8955-SSA form required for 2023? Is the 8955-SSA form required for 2024? [2] The SAR is not required for any year (including 2024) because this is a Solo 401(k), correct?"

"A participant's wife is applying for SSDI. In the meantime the participant wants to take a hardship distribution of close to his plan balance. He has roughly -

• 1/3 ROTH deferral account
• 1/3 SH Match
• 1/3 PS

100% vested in all accounts. [1] I would think he qualifies for a hardship dist.... right? [2] If the dist happens, he must cease his deferrals for 6 months? Was that repealed? (well, you would think if he needs the $ he would stop deferring) [3] Taxes must be withheld (20%) and the 1099R would be coded as premature so will be subject to the 10% excise tax. What am I missing?"

"On the new question line 14b of the 5500-SF are you marking N/A if the plan isn't a 401k or leaving it blank? Instructions seem to indicate to mark N/A if testing wouldn't be used such as only HCEs or No HCEs. Our thought was if it's a PS only plan that you would leave that questions blank. This is the question worded: '14b If this is a Code section 401(k) plan, check all boxes that apply to indicate how the plan is intended to satisfy the nondiscrimination requirements for employee deferrals and employer matching contributions (as applicable) under Code sections 401(k)(3) and 401(m)(2).' "

"As per the revised age for participants to receive RMD for those who reach age 72 after Dec. 31, 2022 and age 73 before Jan. 1, 2033, the RMD age would be 73. For terminating plans how should the RMD be handled? [1] Is the RMD processed based on the status? if the participant is terminated or retired should the RMD be processed? though they can be employed by the acquiring company or can the participant defer it. [2] The forced distribution to the unresponsive participants I believe the RMD should be processed first and then the full distribution should be processed. What in case if the RMD is not processed what would be the repercussion."