401kFedForms

401kFedForms--A free online service for small businesses using the affordable, full-featured pc-based "run-it-yourself" 401(k) Easy (www.401k-easy.com) or the new, affordable, web-based version, 401(k) Easy Online (www.401k-easy-online.com). Welcome to 401k FedForms... The information contained in this website is for our run it yourself 401k customers. The website is designed to simplify your 401k related federal reporting by helping you quickly locate relevant information within your 401k software.

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How To Use This Guide

The Purpose of This Guide… The purpose of this guide is to show you where within your 401k software and companion materials you can locate the information needed to complete your 401k-related federal reporting Forms and Schedules. The first time within a particular IRS Form or Schedule that we reference a report or section of your run-it-yourself 401k plan administration software, we tell you how to get from the software's main menu to that particular report or software window. From that point on within the same IRS Form or Schedule, we name the report or software window but not the path to it. For example, the first time you need to review at your Year-End Auditor ’s Worksheet we note the path to take to get from the main menu to the worksheet (namely, Reports, Yearly 401k Activity Reports, Year End Auditor ’s Worksheet). From that point on within the same IRS Form or Schedule we leave off the parenthetical instructions.

Each IRS Form/Schedule Is Presented in Two Formats… Instructions for each particular IRS Form or Schedule are presented in two formats: Point-and-Click FedForms Instructions Printable FedForms Instructions Point-and-Click Instructions are for online use only. Clicking the highlighted areas of pictured IRS Forms opens a secondary window containing instructions for finding information within your 401k software for that particular section of the Form or Schedule. Both 401k FedForms Point-and-Click Instructions and 401k FedForms Printable Instructions contain the same information and both show you samples of the IRS Form or Schedule, they just present the information in different formats.

Using 401k FedForms Instructions… 401k FedForms presents its information in two formats: You can choose to view the "On-line "Point-and-Click" Fedform Instructions" section which allows you to click on any highlighted area of any IRS Form or Schedule pictured herein to call up the information on where within your 401k software to find the requested information. You can choose to view "Printable Fedform" instructional pages. These pages contain only a small graphical representation of the particular IRS Form or Schedule but list all 401k FedForms instructions regarding that Form or Schedule on a single page. Because information is not "hidden" within popup windows, the Detail pages are recommended for user's who prefer to download and print the instructions rather than view them while online.

 

This Guide Is Not a Tax Manual… This guide is meant as a complement to, not a replacement for, published IRS instructions. 401k FedForms instructions are meant to simplify your federal reporting process by telling you where you can quickly locate pertinent information; 401k FedForms instructions are not meant to offer tax or financial advice.

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Determine the IRS Forms and Schedules You Need to File

Form(s) and Schedule(s) Vary With Plan Size… Consult our 401k Related Federal Reporting Forms and Schedules (which will open up in its own window) to determine the IRS Forms and Schedules you need to file regarding your 401k plan and to see when each is due to the IRS.

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Order Your Forms From the IRS Except for Form 5558 Request for Extension to File, which you can print/download herein or from the IRS web site (see below for link), you must order your blank forms from the IRS. To order your IRS Forms, go to www.irs.gov or call 1-800-TAX-FORMS. Please allow eight weeks for delivery.

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Gather Needed Information From Your 401k Software

The Primary 401k Software Reports You'll Need… Five reports within your 401k plan administration software house the bulk of the information you will need in completing your 401k related IRS Forms and Schedules, and you might find it useful to print them out ahead of time. Following the name of each report is its location within your software. Year-End Auditor ’s Worksheet (go to Reports, Yearly 401k Activity Reports, Year End Auditor's Worksheet) Yearly 5500 Summary Worksheet (go to Reports, Yearly 401k Activity Reports, Yearly 5500 Summary Worksheet) Current Loans — printed AFTER your December processing has been completed (go to Reports, Administrative Reports, Current Loans) Year-to-Date ADP Test Corrections (go to Reports, Yearly 401k Activity Reports, Year-to-Date Activity Summary by Employee, choose the relevant Year, choose “ADP Test Correction ” as the Activity Type) Year-to-Date Distributions (go to Reports, Yearly 401k Activity Reports, Year-to-Date Activity Summary by Employee, choose the relevant Year, choose “Distributions ” as the Activity Type) You will also want your 401k Plan Adoption Agreement for some basic plan information. (This document, supplied to you at your plan ’s outset, should be in your files; it is not incorporated within your 401(k)software.)

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These instructions reference the following reports and documents from your 401k software and companion materials: • Year-End Auditor's Worksheet

Reports Relevant to the Particular IRS Form or Schedule… At the outset of the 401k FedForms instructions for each IRS Form or Schedule is a precise list of the reports you will need from your 401k software to complete the particular Form or Schedule. Some or all of the above are generally included in each list, as are additional items relevant only to the particular Form or Schedule.

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Complete the Relevant IRS Forms and Schedules

Now You Are Ready to Begin… Your customized 401k plan administration software and companion materials house much of the information you need to complete your 401k related federal reporting materials. 401k FedForms can simplify your federal reporting. It explains the basic uses of each 401k related federal form and schedule and tells you where within your run-it-yourself 401k plan administration software to find much of the requested information. Just click on the category below relevant to your plan's size to access 401k FedForms instructions for locating information within your run-it-yourself 401k plan administration software applicable to your 401k related IRS Forms and Schedules. Go to… FedForms Instructions for IRS Forms For Plans With Only 1-Participant* FedForms Instructions for IRS Forms For Plans With 2 to 99 Participants* FedForms Instructions for IRS Forms For Plans With 100+  Participants*   * All employees who are technically eligible to participate in your company's 401k plan because they meet the eligibility requirements indicated in the plan documents whether or not they choose to join the plan are considered "Participants" under federal regulations. As such, they must be counted when you are determining the number of participants covered by your company's 401(k).

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