April 1 is quickly approaching, so now is the time to verify if you or any of your employees must receive an initial RMD on April 1, 2019.
Initial Required Minimum Distributions (Defined Contribution Plans)
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Profit Sharing Plans
Seeking a creative way to attract and retain employees while offering them an opportunity to earn rewards? A profit sharing plan may be the perfect motivational strategy for your business. Whether you’re a large corporation or a small family-owned business, profit sharing plans are strategic tools used to encourage your employees to care about and improve your business’s year-end financials. Profit sharing plans function by giving employers the opportunity to assess year-end revenue reports to determine how much they can contribute to their employees’ retirement plans. The better your business’ finances at the end of the year, the more likely you can make significant contributions to your employees’ retirements through your profit sharing plan. Learn more about profit sharing plan specifics by touring our profit sharing plan articles on the Watkins Ross blog. Hoping to add a profit sharing plan to your employee retirement benefits and retention program? Contact the Watkins Ross retirement plan team to get a customized, professional look into your retirement plan options.
Who Retains The Beneficiary Forms?
A beneficiary form determines who is entitled to the defined contribution retirement plan benefits upon the death of a participant. Is your form current?
2019 Defined Contribution Compliance Calendar
A qualified retirement plan must meet various requirements throughout the year, check out our defined contribution compliance calendar today!
Safe Harbor Plan Amendments
Do you or your clients have a 401(k) plan that could benefit from amending to include a safe harbor provision? Generally, the plan must be amended on or before November 30 to implement the change.
Safe Harbor Hardship Withdrawal Guidelines
The IRS requires Plan Sponsors to adhere to specific hardship withdrawal guidelines for the distribution to take place. In the event of an IRS audit, failure to provide these items is a qualification failure.
How to Submit a Federal Withholding Tax Deposit
Wondering how to electronically submit a federal withholding tax deposit? While it may seem daunting, the IRS has made it easy for plan sponsors to submit these payments.