Contributions
Where can you look to find out if a client deposits Safe Harbor Match during the year?
YEDC
What is the naming convention for a REWORK case when the 5500 has NOT been filed.
12345_Trust_Reconciliation_PYE
DB Plans – If there is a deposit not listed on the Schedule SB what do you do?
Send a pulse note and verify what the deposit represents
When can salary deferrals (payroll deposits) be applied to ER Sources on the contribution recon tab?
NEVER – unless a Solo plan and direction received from the client
12345_Rework_Trust_Reconciliation_PYE – naming convention is used for what type of case?
NONE, we do not use REWORK any longer, this was a past procedure
When do you show “Corrections” (old adjustments) on the Financial Report
Only when it is a Client Error.
When is it ok to use Hierarchy without asking questions about the deposits?
Corient Plans Only
DB Trust Cases – when do you print the PDF of the Financial Report?
When a plan is terminated and fully paid out
Cont Recon Tab - Why do we compare the current year employer accruals to the current year calculated contributions before turning in our trust accounting?
To check for reasonability
Is a True-Up deposit made for an Employee source or Employer source?
Employer
What is the naming convention for a Interim trust case?
12345_Trust_Reconciliation_Interim_Period Year End
For a pooled plan with other investments that are FBO, what do we need to do on the Start Here tab.
Set up as SDBA for each participant that owns the other investment
What two things do you need to consider the contribution is completed? There are three but name two
Correct naming convention
Contribution case “resolved/closed”
Pulse note from compliance analysts
Where in Axis do you find the “Status” of the trust case?
Top Ribbon next to the Case Number – usually in Purple or Black (when completed/cancelled)
What form of documentation is NOT ok to use to value Limited Partnerships AND what documentation due we need.