Plan Qualification and Implementation

Before you implement a new or amended retirement plan, the plan must be submitted to the Department of Labor (DOL) and the Internal Revenue Service (IRS) for approval (qualification) to assure tax benefits.

Assistance wiyth Plan Submission

TPA Services, Inc. will handle the complete submission of the plan including the preparation of plan documents, completion of regional plan prototypes, or amendments. The qualification process is necessary to make the plan and trust operative as well as guarantee initial plan approval under the appropriate IRS Code Sections.

Preparation of Plan Documents

During plan qualification and implementation the following occurs:

  1. 1.Submittal of a regional plan prototype to your organization's legal and tax advisors for approval and resolution of plan adoption;
  2. 2.Preparation of IRS qualification and Department of Labor approval documents (Form 5300 Series, Form 5302, Form 2848, Form SS-4);
  3. 3.Consultation as necessary with the Internal Revenue Service or the Department of Labor;
  4. 4.Preparation of a Summary Plan Description of major plan provisions for employee distribution.