01
Jun
June 2017
Mistake: Eligible employees weren’t given the opportunity to make an elective deferral (exclusion of eligible employees).
Fix the Mistake: Make qualified non-elective... read more
01
Aug
August 2017
Mistake: You haven’t timely deposited employee elective deferrals.
Fix the Mistake: Usually corrected through DOL’s Voluntary Fiduciary Correction Program. You may also... read more
01
Apr
April 2017
Mistake: Employer matching contributions weren’t made to all appropriate employees.
Fix the Mistake: Apply a reasonable correction method that would put affected... read more
01
Mar
March 2017
Mistake: You didn’t use the plan definition of compensation correctly for all deferrals and allocations.
Fix the Mistake: Corrective contribution or... read more
01
Nov
November 2017
Mistake: The plan was top-heavy and required minimum contributions weren’t made to the plan.
Fix the Mistake: Properly contribute and allocate the... read more
01
May
May 2017
Mistake: The plan failed the 401(k) ADP and ACP nondiscrimination tests.
Fix the Mistake: Make qualified non-elective contributions for the non-highly compensated... read more
01
Feb
February 2017
Mistake: You didn’t base the plan operations on the terms of the plan document. Failure to follow plan terms is... read more
01
Jul
July 2017
Mistake: You didn’t base the plan operations on the terms of the plan document. Failure to follow plan terms... read more
01
Jan
January 2017
Mistake: You haven’t updated your plan document within the past few years to reflect the recent law changes.
Fix the... read more
01
Sep
September 2017
Mistake: Participant loans don’t conform to the requirements of the plan document and IRC Section 72(p).
Fix the Mistake: You may correct... read more