Grow A Financial Advising Business with Benefits AdministratorsSeptember 25, 2015
Safe Harbor Mid-Year AmendmentsApril 15, 2016
WE’VE GOT YOUR BACKS
by Frank Corea
It’s about that time of the year where people start to let those resolutions slip out the window! Maybe this was the year you were going to drop a couple pounds and feel amazing. Or, better yet, this may have been the year you were going to get organized.
If planning and organizing were at the top of your professional resolution list, we can help you get organized and stay on track by preparing a schedule for your year.
I’ve been fortunate enough to be able to manage benefits within a company as well as provide support as a consultant. This gives me an advantage of being able to put myself in our clients’ shoes and know what they are going through. As I have found out in this industry, it is sometimes easy to lose track of requirements or not ask the right questions. This is where our services come in handy. We are there to make sure that financial advisors are able to serve their clients more efficiently. This sometimes means creating lists and outlining goals and dates.
This is just one step that can help you become more organized. Which is why I would like to put out some key deadlines to be on the lookout for this year:
• 3/15/16- Distribute any 2015 ADP/ACP test failures in order to avoid 10% IRS excise tax (non-safe harbor 401(k) plans only)
• 8/1/16- File 2015 Form 5500 or 2 ½ month extension (Form 5558)
• 9/15/16- Make 2015 employer contributions to take tax deduction in 2015 fiscal year (assuming corporate tax extension was filed)
I started out working in this field when my family business needed someone to take care of benefits for our employees. Eventually, we were moved into a retirement plan that included services by a third party administrator, which happened to be Benefits Administrators. That’s why I know firsthand what a difference having a company like this makes. Not only are we going to be there to dot the i’s and cross the t’s, we’ll be there for our clients every step of the way.
It’s always nice to know someone has your back.