Blue Ridge ESOP Associates Industry News

Ray Mazurowski

Recent Posts

The Importance of the ESOP Timeline

Posted by Ray Mazurowski

Dec 19, 2017 3:00:00 PM

It’s the start of a brand new Plan Year and my Blue Ridge Administrator is asking me to participate in an annual welcome call to discuss the timeline. Didn’t we just do this last year? Why does my Administrator keep pressing this matter? What is the importance? The answer to these questions is YES, the timeline is a very important tool in ensuring a successful administration process.

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What exactly is the Summary Annual Report and what do I do with it?

Posted by Ray Mazurowski

Sep 8, 2017 2:00:00 PM

The Summary Annual Report (SAR) is a summary of the IRS Form 5500 that must be distributed to all plan participants. You’ll typically receive a copy of the SAR with your plan Participant Statements. Compliance is mandatory, and penalties for willful noncompliance can include fines in excess of $100,000, imprisonment up to 10 years, or both.

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Topics: Form 5500, DOL, Summary Annual Report

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Blue Ridge ESOP Associates can provide everything you need to administer your ESOP, 401(k) or combination ESOP/401(k) plan. Our full service outsourcing, which can include participant on-line services, provides worry-free  assistance for your HR or Benefits staff, leaving them free to concentrate on other responsibilities.

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