Compass
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Defined Benefit Combo Cash Balance Compliance Consultant Loren D. Stark Company (LDSCO)
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Loan & Distribution Specialist AimPoint Pension
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AimPoint Pension
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Bates & Company, Inc.
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Regional Vice President of Sales The Retirement Plan Company
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IRS Employee Plans Compliance Unit Finds Errors in SEP Plans
Internal Revenue Service [IRS] June 4, 2012
"The Employee Plans Compliance Unit's SEP Plan Compliance Check project found errors made by both SEP plan sponsors and the financial institutions filing the SEP-IRA contribution information.... Responses showed that SEP plan sponsors are exceeding annual contribution limits [and] excluding eligible employees, including those of controlled groups. Responses also showed that financial institutions aren't properly completing Form 5498, IRA Contribution Information ... for SEP-IRAs."
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