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IRS EPCU Project Finds Problems with 401(k) Plan Forms 5500
American Society of Pension Professionals & Actuaries [ASPPA]Link to more items from this source
Apr. 19, 2015
"The IRS found in its 401(k) Nonqualified Plans Project that plan sponsors sometimes enter information on the form that indicate that their plan is not qualified.... [T]he project showed that sponsors of the sampled 401(k) plans made mistakes when describing their plan characteristics and listed 3C, showing their plan was a 401(k) plan not intended to be qualified under the Internal Revenue Code.... The few plans that correctly indicated they were nonqualified 401(k) plans were those plans only intended to be qualified by the Hacienda, Puerto Rico's tax authority, and not under the Internal Revenue Code."

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