Blog Posts

Current Articles | RSS Feed RSS Feed

Cycle D Action Items

Posted by Aaron Juckett on Fri, Aug 21, 2009
  
  
  
  

When is the last time you have restated your Plan Document? Do You Know Your 5-Year Remedial Amendment Cycle? Plan sponsors with EINs ending in "4" and "9" are in Cycle D and their 5-year remedial amendment cycle runs from February 1, 2009 through January 31, 2010. IRS Cycle D Retirement Plan Filings: Six Months and Counting explores some Cycle D action items:

  • Determine the filing deadline.
  • Even if taking advantage of the determination letter filing delay, make required plan amendments.
  • Locate filing-related documents.
  • Determine who will prepare the plan restatement.
  • Determine the preparation timing.
  • Determine if IRS review of nondiscrimination testing will be requested.
  • Consider if a Voluntary Correction Program (VCP) filing is needed.
  • Prepare the necessary filing package(s).

Here are some key takeaways:

  • Sponsors must generally file on or before January 31, 2010. If the plan year begins February 2 or later, you may defer the filing until Cycle E without request permission to file. This deferral does not change any plan amendment deadlines.
  • Plan amendments, restatements, trust agreements, and any other relevant documents must be included in the filing.
  • Plan early for the filing and contact your counsel and ESOP team as soon as possible. They will work with you to determine to prepare the filing. If a VCP filing is also needed, they will be able to prepare the appropriate filing(s).
Tags: , , ,

Join Me on the Blog

Your email:

Follow Us

esop-feasibility-annalysis-button-small

2012 IRS Pension Plan Limits

401(k) Deferral Limit - $17,000

Annual Additions Limit - $50,000

Maximum Compensation Limit - $250,000

Catch-Up Contribution Limit - $5,500

Highly Compensated Employee - $115,000

ESOP 5-Year Distribution Threshold - $1,015,000

ESOP Additional Year Threshold - $200,000

2012 Pension Plan Limits

1989 - 2012 Plan Limits

Latest Posts