What is an SPD?
Dec 16, 2019 10:33:58 AM
Dec 16, 2019 10:24:15 AM
Mar 27, 2019 3:15:55 PM
Establishing and maintaining a qualified retirement plan for employees can be expensive. It is important for plan sponsors to understand all the costs involved, if those costs can be classified as plan expenses that can be paid from plan assets, and how to allocate those expenses.
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.
Nov 15, 2016 1:07:28 PM
IRS Provides Help with Rollovers
If you receive a distribution check and fail to roll over the payment to an IRA or other plan within 60 days, you may be in luck. The IRS has provided a self-certification procedure for those who inadvertently fail to complete a rollover within 60 days. Revenue Procedure 2016-47 provides a sample self-certification letter that a taxpayer can use to notify an IRA or other institution that he qualifies for a waiver of the 60-day rollover requirement. The waiver applies if one or more of 11 circumstances apply, including:
Jul 20, 2016 11:23:38 AM
The IRS, Department of Labor (DOL) and Pension Benefit Guaranty Corporation (PBGC) have decided that Form 5500 requires a major update. The proposed revisions will be published July 21, followed by a 75-day comment period. The revised Form 5500 is targeted for rollout with the 2019 filing year. According to a DOL press release, proposed revisions are intended to:
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.