Christmas
What Legacy companies are included in the cash basis exception?
Newport and Goldleaf
This is where Fee Reimbursements go on the 5500
Other (Rollover) line
Notes and Deeds are simple promissory notes (outside loans) that are treated exactly like what other type of investment in the plan.
What is participant loans
What 4 things should be included in your yellow section note for all rework cases.
Name, Date, Rework case number and brief description of what you did.
What is the naming convention for plan termination with zero assets, final trust accounting?
12345_Trust_Reconciliation_FINAL_mm.dd.yyyy
If there are multiple excel TA’s saved in the FP Client Folders, this is what you should do with the ones that are incorrect
What is create a DNU folder and move them there
This is the color of the section on the Financial Report where you give details on the liabilities and other receivables
What is blue
Where do you link Employer Excess contributions on the Financial Report so they reflect correctly on the 5500?
To the Employer Contributions (Not rollovers)
This is the question on the checklist that would be answered by saying “No 2025 (following year) statements available”
What is: Have the current year EE/ ER accruals been deposited by the date the TA is completed
A plan has 6 SDBA accounts, as well as 1 accrual only participant and 2 participants with Annuities only. 2 of the SDBA accounts were paid out this year. How many Self Directed Brokerage Accounts should be shown on the Billing tab in Axis?
4
When is it ok to have more than one Trust Accounting in a client file?
When there is an AMENDED Trust. (Not revised but amended) (9/26/2025 FYI Friday)
If a plan has allocated/vendor assets and also has Other Investments, how do you set it up on the plan totals?
Put the Other Investments in an SDBA column
What do you do when a fee credit is larger than the reported fees resulting in a positive fee on the 5500 tab?
Report them as income, because you cannot have positive fees on the 5500.
This type of contribution should be added to the Employer Discretionary contribution totals when it is being used
What is Top Heavy Min contribution.
For conversion plans- For plans converting from SDBA to vendor, what should be entered on the billing tab in Axis?
0
We will no longer be deeming loans for SDBA and Pooled plans unless this document has been verified
What is a 1099-R.
For DB plans, what do you do with contributions that are deposited into a Mutual Fund?
What is link them to the green per account on the PerAcct tab
What 2 sections on the contribution recon tab do you enter forfeitures used.
Calculated and Accrual sections.
When is it ok to enter a non-cash or “fake” transaction in the plan totals tab per account section?
What is when a participant was paid directly from the corporation instead of through the plan
If you have a DB/ CB plan where the deposit amounts and dates do not match the 5500 SB, what should you do?
Stop and ask why. The actuary needs to confirm these deposits. Might be missing statements, or an account.
What are the COLA limits for 2025 for Defined Benefit plans, 401(K) deferrals and Catch up.
DB-280,000, 401k-23,500, Catch up- 7,500
What is the alternative admin report to use when we need to break out Pre-tax vs Roth contributions when they are combined on the contribution recon report.
What is 402(g)
This correction is required (on the plan totals tab) when a participant’s funds remain in the master account into the next plan year, to ensure they receive their share of earnings.
What is posting a transfer from the accrual account to the master account.
If a plan has unreported prior year contributions, which 3 tabs must be manually updated?
Plan totals, Financial Report, Contribution Recon (Change source heading to Prior Year Unreported cont)
New purchases or sales of Other Investments from funds in a brokerage account would be considered transfers and then linked from the PerAcct tab to the transfers row of the PerAcct section on the Plan Totals Tab. What must you do to get the transfers row in the Income and Expenses portion of the Plan Totals tab to equal zero?
What is manually link the transfer from the Other Investment tab