Author: Saaib Uppal, CPA, QKA

Playing it Safe with Rollovers of Mandatory Distributions

September 27, 2012

In our previous blog entry Moving the Goal Posts of Humaneness, we went over the news of the IRS no longer allowing their Letter-Forwarding Service for the use of […]

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Moving the Goal Posts of Humaneness

September 13, 2012

In one of our previous blogs Mind Watching My Stuff for a Minute?, we discussed how to go about finding a participant who is unresponsive to communications from the plan sponsor.

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Well, What Do We Do Now?

May 31, 2012

Posted by Saaib Uppal In my blog post titled Mind Watching My Stuff for a Minute? I went over how to go about finding a participant who is unresponsive to communications from the plan fiduciary. As I mentioned, to terminate a plan, a sponsor must distribute all account balances. But, what if the plan sponsor seems to be searching … Continued

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Mind Watching My Stuff for a Minute?

May 10, 2012

Posted by Saaib Uppal Any Seinfeld fan out there would remember an episode in which a tourist asked George Costanza to watch over his bag for a minute. George agreed and then stood there as the man disappeared. Unable to wait because the man was taking a long time to return, George decided to just … Continued

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Top-Heavy Testing

April 19, 2012

Posted by Saaib Uppal and Stacey Snyder Disclaimer: All blog posts are valid as of the date published. As the common adage goes, “A chain is only as strong as its weakest link.” With discussions across the country focusing on the discrepancies in wealth, we thought now is a better time than ever to remind … Continued

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Limited Scope Audits

March 29, 2012

Posted by Saaib Uppal Don’t you love those days when you wake up before your alarm clock only to see you can go back to sleep for another hour, or when your boss decides to push a deadline back on a project, or the moment you found out that the employee benefit plan you administer requires a limited scope … Continued

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Timeliness of Deposits

February 23, 2012

Posted by Saaib Uppal We often speak of and promote a diversity of opinion. It is, after all, what leads to creativity and imaginative thinking. Take the following rule as an example: “Funds have to be deposited as ‘of the earliest date on which such contributions can reasonably be segregated from the employer’s general assets.’” … Continued

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“Maybe” Notices for Safe Harbor Plans

January 20, 2012

Posted by Saaib Uppal, Staff Accountant After weeks of internal deliberation and planning, I had finally gained the courage to ask a particular girl to my high school prom. I was very nervous and she replied with, ‘”Maybe.” What does that word mean? Is it a positive “maybe”? Is it a, “I don’t want to … Continued

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How to Stop a Safe Harbor Non-Elective Contribution

January 11, 2012

Posted by Saaib Uppal, Staff Accountant Webster’s dictionary defines a commitment as “an agreement or pledge to do something in the future.”  What Webster doesn’t mention is anything regarding the length of that commitment or the procedures for an opt-out.  Circumstances and factors often arise that make it difficult and even impossible at times to keep a commitment. … Continued

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Belfint Lyons Shuman is a Certified Public Accounting (CPA) firm that audits Defined contribution plans (profit-sharing, 401(k), 403(b) , 401(a), 457(b))), and Defined benefit plans (pension and cash balance), and Health and welfare plans. We serve a variety of plan sponsors including for-profit, nonprofit, governmental, and Taft-Hartley collectively-bargained plans located in Delaware, Pennsylvania, New Jersey, Maryland, Washington, D.C., Virginia, Massachusetts, and nationally. For additional information contact us at info@belfint.com