Halloween
If a deposit is made to an other investment, that did not transfer from another plan account, what is this called?
What is a contribution
If deposits are made to reimburse fees into the trust, where should this link to the 5500 tab?
What is Other (including rollovers)
If an SDBA gets paid out during the year, do you count it in the overall SDBA count for the billing tab?
No
Who can confirm if a contribution calculation has been finalized?
The Compliance Analyst
This is the Trust naming convention for saving the prior year 5500.
12345_5500_EFAST_12.31.202X
This is the website we use when downloading the 5500.
What is EFAST/ DOL
If a consultant requests a change to the contribution amount while TA is being completed, what must you have before updating the contribution recon tab?
An updated contribution report
When the broker statement has a security transfer to an IRA, what type of transaction is this?
What is a distribution.
What is the earliest age you can withdrawal from a 401(k) plan without penalties?
What is 59 ½
What is the maximum Non Mortgage loan for a participant with a balance of $80,000 who is 75% vested?
What is $30,000.
When is it mandatory to do a per account for pooled or SDBA plan? (There are 4 total) -100 pts per correct answer.
Off calendar, Plans with loans, Participant has multiple accounts, and if the Contribution Recon does not seem reasonable.
If there are multiple trust in the client folder, what should you do with the ones that do not apply.
What is create a DNU folder and move them.
If a plan has a master flow thru, with loans, and all loan payments do not transfer to the participant’s account. Do you apply those payments to the participant loan balance.
-Bonus- How would you report this on the Plan Totals Tab (250pts)
What is yes.
-Bonus Answer- Show as transfers due from the Master to the participant.
What color are the cells that must be manually keyed (except for the Financial Report)?
Orange