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  • Plan Year Compliance Package

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  • Plan Design
  • Statutory / Regulatory

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Plan Year Compliance Package

  • Posted on April 6, 2021 by Legacy Retirement Solutions

With the ever increasing need for complete disclosure; managing and maintaining all of the documents, forms, testing results, tax filings, etc. has become a daunting and exhaustive task.  In addition, the regulatory agencies charged with auditing and investigating retirement plans continue to raise their expectations with respect to the formal policies and procedures implemented and maintained by retirement Plan Sponsors in order to facilitate the compliant operation of their plan.

Legacy is here to help your Company satisfy these requirements and expectations by offering 3 different levels of Plan Year Compliance reporting for the Defined Contribution plans from our Standard and our Plus, right up to our Premium.  Each Plan Year report is designed to help your Company maintain a “single source” organized and streamlined record of a prior Plan Year’s operation.  We also have a compliance package for our Defined Benefit/Cash Balance Plans. Below is a listing of each Plan Year Compliance package offered along with a list of included reports and pricing.  Please contact us for more information.

 

Standard Package 

1. Summary of Test
     Results
2. Eligibility Status
3. 410(b) Test
4. Deductibility Test
5. Annual Additions
    Report
6. ADP/ACP Test
7. ADP/ACP Corrections
8. HCE & Key
    Determination
9. Top Heavy Report
$250 – Flash Drive
$350 – Hardcopy Binder

 

Plus Package

1. Standard Package
2. Basic Plan Document
3. Adoption Agreement
4. Summary Plan
     Description
5. SAS-70 Recordkeeper
6. Form 5500
7. Summary Annual
    Report
8. 5500 Reconciliation
9. Safe Harbor Notice
$400 – Flash Drive
$500 – Hardcopy Binder

 

Premium Package

1. Plus Package
2. Auditor Report
3. Administrative Report
4. Trust Report
5. Loan Summary Report
6. Investment Policy
    Statement*
7. 404(a)(5) Notice*
8. Auto Enrollment Notice*
9. QDIA Notice*
$500 – Flash Drive
$600 – Hardcopy Binder

 

Defined Benefit Package

1.    Valuations
2.    Summary of Plan Provisions
3.    Form 5500 with all applicable schedules
4.    SAR
5.    Plan Document
6.    Adoption Agreement
7.    SPD
8.    Amendments
9.    Participant Statements
10.  Trust Rpt/Brokerage Account statements
11.  AFTAP – Adjusted Funding Target Attainment Percentage
12.  AFN – Annual Funding Notice
13.  PBGC Filing, if applicable
$500 – Flash Drive
$600 – Hardcopy Binder

 

 

 *If applicable and subject to third-party provision of such documents, if necessary

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Tax Credit For Small Employer Start-Up Plans
Form 5500
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Recent Administrative Posts

  • ADP Test Basics Corrections
  • ADP Test Basics
  • Form 5500

Recent Plan Design Posts

  • Safe Harbor 401(k) Establishment Deadline
  • Safe Harbor 401(k) Establishment Deadlines
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Recent Statutory / Regulatory Posts

  • Tax Credit For Small Employer Start-Up Plans
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  • ADP Test Basics

Archived Articles A-Z

  • A-E
  • F-J
  • K-O
  • P-T
  • U-Y
  • Z-Z

A-E

  • Defined Benefit Plan Year Compliance Package
  • Delay to Deadline for Plan Sponsors to Make Retirement Plan Contributions
  • Department of Labor Releases New Guidance on Missing Participants
  • CARES Act – Retirement Plan Impact
  • Cashing-Out Terminated Employees From Your Company’s Retirement Plan
  • ADP Test Basics
  • ADP Test Basics
  • ADP Test Basics
  • ADP Test Basics
  • ADP Test Basics Corrections
  • ADP Test Corrections
  • Changes to DOL Late Deferral Remittance Enforcement Procedure
  • Changes to 404a-5 Participan Fee Disclosure Requires Additional Notifications
  • Congress Enacts Changes to Hardship Withdrawal Rules
  • Consequences of Failing to Timely Adopt a PPA Restatement
  • Employing the Proper Definition of Compensation
  • Correcting Average Deferral Percentage Test Failures
  • Correcting Average Deferral Percentage Test Failures
  • Are Your SEP Plans Safe From Other Financial Advisors?
  • Are You Ready For Your Next Plan year end?
  • ERISA Bond: What Is It and Do I Need ONe?
  • ERISA Bond: What Is It and Do I Need One?
  • A Plan Administrator’s “Due Diligence” Obligations
  • A Plan for Retirement Plan Compliance 2014
Back to top

F-J

  • Important CARES Act 2020 RMD Rollover Deadline Fast Approaching
  • Form 5500
  • Form 5500 Update
  • Form 5500 Update
  • IRS Creates Permanent Form 5500 Penalty Relief Program for Non-ERISA Plans
  • IRS Expands Retirement Plan Sponsors’ Self-Correction Options
  • IRS Expands Use of Pre-Approved Plan Documents To Cash Balance Plans
  • IRS Grants Form 5500 Penalty Relief for Non-ERISA Plans
  • IRS Grants 401(k) Safe Harbor Suspension Relief
  • IRS Issues Final Regulations on Mid-Year Reduction or Suspension of Safe Harbor Contributions
  • IRS Issues Guidance on Same Sex Marriage
  • IRS Issues Guidance Regarding Uncashed Check
  • IRS Revisits Mid-Plan Year Changes to Safe Harbor 401(k) Plans
  • IRS Provides Guidance on Expansion of In-Plan Roth Rollovers
Back to top

K-O

  • Legacy Solo(k) Plans 2016
  • NAPA Conference
  • New Opportunity In-Plan Roth Conversions
  • Limitations On Mid-Plan Year Amendments To Safe Harbor 401(k) Plans
Back to top

P-T

  • Safe Harbor 401(k) Establishment Deadline
  • Safe Harbor 401(k) Establishment Deadlines
  • Required Minimum Distributions
  • Required Minimum Distributions
  • Required Minimum Distributions
  • Tax Credit for Small Employer Start-Up Plans
  • Tax Credit For Small Employer Start-Up Plans
  • Tax Credit for Small Employer Start-Up Plans
  • Tax Credit For Small Employer Start-Up Plans
  • The SECURE Act – Plan Sponsor Impact – Part 1
  • The SECURE Act – Plan Sponsor Impact – Part 2
  • The SECURE Act – Plan Sponsor Impact – Part 3
  • The Power of Combining Plans
  • The Problem with Using Forfeitures to Satisfy Employer Contributions
  • Plan Sponsors Must Retain Hardship and Loan Documentation
  • Plan Year Compliance Package
  • Plan Year Compliance Packages
  • Solo 401(k) Brochure
  • Treasury Issues Proposed Hardship Withdrawal Regulations
Back to top

U-Y

  • What are “Cash Balance Plans”?
  • What is “New Comparability”?
Back to top

 

 

 

 

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