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EPCU Summary Report: Reporting of 4979 Excise Tax by 401(k) Plans Using Form 5330
Internal Revenue Service [IRS]Link to more items from this source
Sept. 1, 2015
"The goal of this project was to verify nondiscrimination compliance was met by requesting and reviewing information to: [1] Determine the plan provisions properly allowed and adopted a 401(k) as part of a CODA. [2] Determine compliance with IRC Section 401(k)(11) for SIMPLE 401(k) plans. [3] Determine compliance with IRC Section 401(k)(12) for Safe Harbor plans. [4] Verify corrective measures were taken to satisfy ADP or ACP tests and any applicable 1099-Rs were issued. [5] Verify reporting and the accuracy of calculations used to determine the amount of excise tax asserted under IRC Section 4979, requesting corrections when errors were identified."

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