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Posted by studiocenter on Dec 3, 2012

The IRS Meets Letterman

  • 1. Failure to timely adopt amendments required by tax law changes
  • 2. Failure to follow the plan's definition of compensation when determining benefits
  • 3. Failure to include eligible employees or exclude ineligible employees
  • 4. Failure to follow the rules related to participant loans
  • 5. Failure to follow rules related to in-service withdrawals
  • 6. Failure to satisfy the rules related to required minimum distributions (RMDs)
  • 7. Failure to satisfy the rules related to eligibility to sponsor a certain type of plan
  • 8. Failure to pass the ADP and/or ACP test
  • 9. Failure to provide top-heavy minimum benefits to non-key employees
  • 10. Failure to cap benefits at the annual additions limit
  • IRS and Social Security Annual Limits

This newsletter is intended to provide general information on matters of interest in the area of qualified retirement plans and is distributed with the understanding that the publisher and distributor are not rendering legal, tax or other professional advice. Readers should not act or rely on any information in this newsletter without first seeking the advice of an independent tax advisor such as an attorney or CPA.

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