Category: DOL/IRS Guidance
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 […]
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.
Employee Benefit Plan Bonding & Fiduciary Liability Insurance
April 12, 2012
Posted by Michael E. Mast, CPA The Employee Retirement Income Security Act (ERISA) section 412 requires plans to obtain an ERISA bond equal to the greater of $1,000 or 10% of the plan’s beginning of year plan assets, with a $500,000 maximum. In addition, if the plan assets include employer stock, then the maximum bond … Continued
A CE Event You Won’t Want to Miss
March 15, 2012
Posted by Maria T. Hurd, CPA On Thursday, April 12 2012, Raymond James and Drexel University’s LeBow College of Business will be presenting a continuing education event for professionals involved with corporate retirement plans. Representatives from the U.S. Department of Labor will make a keynote presentation on the final 408(b)(2) and 404(a)(5) fee disclosure regulations and … Continued
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
…about your deductibility question: the answer is NO!
February 16, 2012
Posted by Maria T. Hurd, CPA During tax season, questions about the deductibility of company contributions come up year after year, most of which involve a plan sponsor’s wish to deduct a company contribution to their retirement plan. Despite their wishful thoughts, many times the answer is NO. In some cases, however, a NO answer … Continued
Tax Filing Requirements for Voluntary Employee Benefit Association Trusts
February 09, 2012
Posted by Michael Mast, CPA Disclaimer: All blog posts are valid as of the date published. Voluntary Employee Benefit Association (VEBA) Trusts meet requirements to file both Form 5500 and Form 990. This requirement to file two returns made me question why other collectively-bargained benefit plans, such as the Pension, Annuity Funds, as well as … Continued