"II have a closed MEP that includes Company A and Company B. Company A has different ownership than Company B. The owner of Company B is over age 72 and has an account balance in the plan derived from being an employee at Company A (in which he has no ownership). Is he required to take an RMD since he is an 5% owner in ONE of the companies that sponsors the plan?"

"I am surprised I have never had this issue. I have a client who deposited funds the profit sharing allocations of the participants into their safe harbor accounts and safe harbor allocations into profit sharing accounts. The funds are held at John Hancock. Is there a way to correct this? I just want to transfer the difference between the accounts. Should there be an effort to estimate the earnings and move those funds as well? I do not recall reading about corrective measures in this situation."

"Our company has made a plan restatement of our Top Hat Plan. After this restatement, do we need to file a statement of this change with the DOL? i.e. using this online filing tool?"

"I've read through this link but its an older one, and I just want to make sure I'm understanding it correctly for a plan's situation. Profit Sharing only plan - plan document specifies pro-rata allocation method, so I recognize it is relying on the allocation method safe harbor, rather than general testing, 401a4. Plan has a 1,000 hours and last day requirement, and most years there are a few part-time folks who are required to receive only the top heavy minimum. The 70% test does pass if those folks are included as benefiting. It does not if they are not counted as benefiting. Based on my reading of the link above - it sounds like I can't include them as benefiting? The plan document does not have the 410(b) fail safe language, so if allocation conditions need to be waived for anything other the top heavy min, a corrective amendment will be needed. Or, the plan would have to move on to more general testing and see if it passes, if it still doesn't pass, then then aforementioned amendment comes into play. Am I understanding this correctly? Do you include top heavy min only participants as benefiting in the regular ratio percentage test?"

"We need to Efile a 2020 5500 for a DB PLAN with the DFVCP. The new rules say we must efile 2020, and prior years, using the 2023 forms. I noticed on line that however, for the SB the correct year form can be used and signed and attached as a pdf to the e-filing and to label it other attachment. Question. Does this mean that we only file the 23 5500 and the sb is only filed as a pdf attachment? OR IS the 23 SB filled out for the 20 year, and efiled along with the 5500sf. And then 2 sb attachments will be attached. One attachment being a pdf of the signed 23 sb(with the 2020 on it obviously) that is labeled mb sb actuary signature and then we must attach a pdf of the signed copy of the 2019 year sb labeled other attachment?"

"Client has FSA that allows rollover of unused FSA balance up to IRS maximum. Plan year is 7/1-6/30. For 2023 PY, employee had unused funds that rolled over 7/1/24; however, employee did not elect to make contributions for 2024 PY (and there are no employer contributions to the FSA). Can the employee use the rollover from 2023 PY for expenses incurred in 2024 PY? My initial reaction is the employee is not a participant in the FSA for the 2024 PY so they cannot submit for reimbursement of expenses in 2024 PY. Do we treat the employee similar to a terminated employee and allow a run-out period to spend down their rollover balance?"

"A TPA client was told by an investment provider that in order for the provider to reveal information about mutual clients they have to be an authorized TPA and in order to do so they have to complete a form that the TPA deems intrusive because it asks about their book of business, revenue, insurance policies etc. etc. How do other TPA firms deal with this -- do you simply provide the requested information?"

"Not actually a 5500 question -- is there any penalty relief program for late or non-filing of the 8955-SSA for ESOP plans, similar to the programs for late 5500 forms? ... It appears that no SSA reporting would be required for participants in pay status -- e.g. receiving payments over 5 years, etc. -- but I'm not aware of any dispensation for not filing the form if, for example, they must have a 5-year break in service, or reach age 65, etc...., or if a participant elects to postpone distributions."

"Have been using DATAIR for the past few years, but am looking for some software that can illustrate DB and 412(e)(3) plans specifically. We used BlazeSSI's PENDEAS for years and it worked great for 412(e)(3) plans and was affordable. Moved to PlanGen and it was ok, then back to PENDEAS. With them closing a few years ago we moved to DATAIR, but it's a very cumbersome system to use. Any recommendations out there for something more ... modern?"