Form 14568-D - Model Vcp Compliance Statement Schedule 4 Simple Iras Page 5

Download a blank fillable Form 14568-D - Model Vcp Compliance Statement Schedule 4 Simple Iras in PDF format just by clicking the "DOWNLOAD PDF" button.

Open the file in any PDF-viewing software. Adobe Reader or any alternative for Windows or MacOS are required to access and complete fillable content.

Complete Form 14568-D - Model Vcp Compliance Statement Schedule 4 Simple Iras with your personal data - all interactive fields are highlighted in places where you should type, access drop-down lists or select multiple-choice options.

Some fillable PDF-files have the option of saving the completed form that contains your own data for later use or sending it out straight away.

ADVERTISEMENT

Page 5
Plan name
EIN
Plan number
Distribution of excess employer contributions
The plan sponsor has effected (or will effect) the return of excess employer contributions, adjusted for earnings
through the date of correction, to the plan sponsor. The earnings adjustment will be based on the actual rates of
return on the affected participants’ SIMPLE IRAs from the date(s) that the excess employer contributions were
made through the date of correction. The amount returned to the plan sponsor is not includible in the gross
income of the affected participant(s). The plan sponsor is not entitled to a deduction for the excess employer
contributions. The amount returned is reported on Form 1099-R as a distribution issued to the affected
participant(s), indicating the taxable amount as zero.
The return of the excess employer contributions (before adjusting for earnings) for each affected plan year is
Year
Return of Excess Employer Contributions
Number of Participants Affected
The earnings adjustment will be based on the actual rates of return of the SIMPLE IRA from the date(s) that the
excess employer contributions were made through the date of correction.
Excess amounts of $100 or less
For one or more participants, the total excess amount (employer contributions and/or elective deferrals before
adjusting for earnings) is $100 or less. The excess amount will not be distributed.
Former employees affected by the excess amounts failure (check one)
There are no former employees affected by the failure.
Affected former employees (or if deceased, their estate or known beneficiary) will be contacted. To the extent that
an affected former employee or beneficiary cannot be located following a mailing to the last known address, the
plan sponsor will take the actions specified below to locate that employee or beneficiary.
E. Written Arrangement Not Timely Updated for Tax Law Changes
The SIMPLE plan was not timely updated for tax law changes associated with the Economic Growth
and Tax Relief Reconciliation Act of 2001 (EGTRRA) as required by Revenue Procedure 2002-10.
Description of Proposed Method of Correction: The plan sponsor has adopted a new version of the SIMPLE plan that
includes the EGTRRA tax law changes retroactive to 2002. A copy of the signed and dated plan is enclosed with this
VCP submission.
14568-D
Catalog Number 66148F
Form
(Rev. 9-2017)

ADVERTISEMENT

00 votes

Related Articles

Related forms

Related Categories

Parent category: Financial
Go
Page of 6