Message Boards Digest, as of July 6, 2026

Message Boards Digest

July 6, 2026

khn created a topic in 401(k) Plans

Late Contribution Correction Question

"If a few payrolls from 2024 have been identified as late, is it correct that we only report the late ee deferrals on the 5500, but calculate earnings on both the late ee and er deferrals when processing the correction to make participants whole?"

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TPApril created a topic in 401(k) Plans

Minimal Underpayment, But Participant Already Termed and Distributed

"Upon review, it was determined a participant's 401(k) that was withheld from his paycheck in the amount of $35 was not deposited. Participant has since terminated over a year ago and took a full distribution. Recordkeeper refuses to reopen the account without new enrollment paperwork. Thinking to have the amount deposited to the Forfeiture account and be done with it. By the way, in terms of delinquent contributions, this is the only amount."

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