Form 6044 - Employee Plan Deficiency Checksheet - 2006
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Department of the Treasury-Internal Revenue Service
6044
Employee Plan Deficiency Checksheet
Form
Attachment #6
(Rev. March 2006)
Limitations on Contributions and Benefits
For IRS Use
Please furnish the amendment(s) requested in the section(s) checked below.
602
Section
of the plan must define the term "limitation year." If not, the plan's limitation year is
the calendar year. An employer may elect, by written resolution, to utilize another 12-consecutive month
period as the limitation year. Regs. section 1.415-2(b).
I.a.
603
Section
of the plan should be amended to define the term "compensation" in accordance with
IRC section 415(c)(3), section 1.415-2(d) of the regulations and, if applicable, section 1.415(c)-2(e) of the
proposed regulations.
I.b.
611
Section
of the plan should be amended to define annual additions in accordance with the
Code and regulations. IRC sections 415(c), 415(l), 419A(d)(2) and Regs. section 1.415-6.
Il.a.
612
Section
of the plan must preclude the possibility that the annual additions to any participant's
account for a limitation year will exceed the lesser of 100 percent of compensation or $40,000, as adjusted
for cost-of-living increases pursuant to IRC sections 415(c)(1), 415(d)(1), 415(d)(3), and 415(d)(4).
Il.b.
613
Section
of the plan must provide for the use of one of the methods set forth in section
1.415-6(b)(6) of the regulations only in situations where excess annual additions may result from
contributions based on estimated annual compensation, the allocation of forfeitures, or a reasonable error in
ll.c.
determining the amount of elective deferrals under section 402(g)(3). If the plan is a pension plan, then section
1.415-6(b)(6)(i) of the regulations may not be used as the plan would fail to provide definitely determinable
benefits. Regs. sections 1.401(a)-2(b) and 1.415-6(b)(6).
614
Where a defined contribution plan provides for an employer to continue to make contributions on behalf
of an employee other than a highly compensated employee, who is permanently and totally disabled (as
defined in section 22(e)(3) of the Code), then deemed compensation upon which contributions are made must be no
Il.d.
greater than the rate at which the participant was paid immediately before becoming permanently and totally
disabled. For years beginning after December 31, 1996, the above rule continues to apply. However, if a plan
provides for the continuation of contributions on behalf of all such disabled participants for a fixed or determinable
period, this rule also applies to highly compensated employees. Such contributions must be nonforfeitable when
made. Section
of the plan should be amended accordingly. IRC section 415(c)(3)(C).
615,616
Section
of the plan must provide that all defined contribution plans (including voluntary
employee contribution accounts in a defined benefit plan and key employee accounts under a welfare
benefit plan described in section 419, as well as employer contributions allocated to an IRA) of the employer,
Il.e.
whether or not terminated, will be treated as one defined contribution plan for purposes of the limitations under
section 415(c). Otherwise each of the defined contribution plans must contain provisions which limit each plan such
that the possibility is precluded that the aggregated defined contribution plans may exceed the limitations of section
415(c). Where the employer is a member of a controlled group of corporations or commonly controlled trades or
businesses, or a member of an affiliated service group, within the meaning of sections 414(b), (c) or (m) and 415(g)
and (h), the plan must provide that all such employers are treated as a single employer for purposes of the plan's
application of the section 415 limitations. IRC sections 419, 415(f)(1) and 414(m)(4); Regs. sections 1.415-8(a),
1.415-1(d)(1) and 1.401(a)-1(b)(1)(iii).
Note: This attachment has only been updated with respect to defined contribution plans. Parts III to VI below have not
been updated.
621
Section
of the plan must provide that the annual benefit to which any participant may be
entitled, in the form of a straight life annuity, shall not exceed the lesser of $90,000 or 100 percent of the
participant's high three year average compensation (or fewer, if the employee does not have three consecutive
III.a.
years). IRC sections 415(b)(1) and (2), 415(d); Regs. sections 1.415-3(a)(3) and (b).
Catalog Number 43038M Page 1 of 4
Form 6044 (Rev. 3-2006)
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