402(G) And 415 Testing

7 Questions | Total Attempts: 141

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402(G) And 415 Testing

Questions and Answers
  • 1. 
    The 415 Annual Additions test is a test that looks at what the employee defers only.
    • A. 

      True

    • B. 

      False

  • 2. 
    The 402(g) limit allows for catch-up contributions
    • A. 

      True

    • B. 

      False

  • 3. 
    The 402(g) limit for 2015 is 18,000 plus catch-up if over age 50.
    • A. 

      True

    • B. 

      False

  • 4. 
    We do not have to rerun the 415 test if a plan funds an employer contribution
    • A. 

      True

    • B. 

      False

  • 5. 
    A common reason for a plan to fail the 402(g) test is due to a participant moving from one company code to another and the accumulator not being updated correctly in that move
    • A. 

      True

    • B. 

      False

  • 6. 
    For the 2015 test plan year, unless the plan tells us otherwise, we will process any 415 excesses and gains/losses no later than March 14th/15th.
    • A. 

      True

    • B. 

      False

  • 7. 
    If a plan fails the 415 or 402(g) test, the participant will have to receive a revised W2 to reflect the corrected contributions
    • A. 

      True

    • B. 

      False

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