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Fundamentals 06: ADP/ACP Test [2017]
Presentor: David Schultz Recorded Date: 11/16/2017 Duration: 60 Min.

Description
This program was recorded during a live presentation given on November 16, 2017 at 12:00PM EST.
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Do you need to train someone new? Do you need to brush up on the basics, or to fill in gaps in your knowledge? SunGard’s Fundamentals Series may be just what you need. 16 convenient 1-hour web seminars provide the information a pension practitioner needs to function effective in the modern 401(k) world. Pick and choose the topics you need, or participate in the entire series: the choice is yours. Our standard pricing has been discounted to make attendance to all sessions in this series more cost effective. The series will cover the following:

  • Fundamentals Series 01: Eligibility
  • Fundamentals Series 02: Vesting
  • Fundamentals Series 03: Compensation and HCEs
  • Fundamentals Series 04: Coverage Test (Ratio Percentage Only)
  • Fundamentals Series 05: Elective Deferrals
  • Fundamentals Series 06: ADP/ACP Test
  • Fundamentals Series 07: Safe Harbor 401(k) Plans
  • Fundamentals Series 08: Nondiscrimination Testing and Allocations
  • Fundamentals Series 09: Allocation and Deduction Limits (415 and 404)
  • Fundamentals Series 10: Top-Heavy Testing
  • Fundamentals Series 11: Controlled Groups
  • Fundamentals Series 12: Participant Loans
  • Fundamentals Series 13: Distributions
  • Fundamentals Series 14: Fiduciary Requirements; Reporting and Disclosure

Fundamentals 06: ADP/ACP test [2017]

Every 401(k) plan must test for nondiscrimination annually, whether it’s a small or large plan or maintained by a tax-exempt or for-profit employer. To test for nondiscrimination, the Code requires a 401(k) plan to test deferrals under the actual deferral percentage test (ADP) and matching contributions, if any, under the actual contribution percentage test (ACP). This program focuses on both ADP and ACP testing and correcting their failures, including by catch-up recharacterization.

  • ADP testing fundamentals
  • Testing methods
  • Corrective distributions
  • Leveling system
  • Correction deadlines
  • Recharacterize as catch-up
Prerequisites:

There are no prerequisites or other advanced preparation for this program. No prior experience needed.

Level: Beginning.

Instructional Delivery Method
Group – Internet-Based

NASBA Field of Study: Taxes

Speaker: David Schultz, J.D.

Objectives: After participating in this program, an attendee should be able to:

  • Determine a participant’s actual deferral rate (ADR)
  • Administer the ADP test
  • Administer the ACP test
  • Understand the differences between prior year testing and current year testing
  • Correct an ADP failure by:
    • Distributing the excess contribution
    • Making an additional employer contribution
  • Recharacterizing a contribution as a catch-up

 

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