I’ve received a letter from the PWBA requesting that Questions 6a thru 6c be completed on the Schedule R. The plan referenced is a 401k or ESOP Plan. What do I do?
Per our conversations with EFAST, the IRS was not explicit as to which plans need to complete Schedule R Questions 6a thru 6c, so letters have been generated for all kinds of defined contribution plans. Primarily this is a result of specifying feature code 2J (401k) without specifying 2E (Profit Sharing). EFAST is now aware of the erroneous letter flag and has stopped processing this request letter.
If you receive a letter, indicate in your response that the plan is not subject to minimum fund therefore questions 6a thru 6c on the Schedule R are not applicable and request that the forms be processed as filed.
If you have a target benefit plan or a money purchase plan, Schedule R, questions 6a thru 6c are applicable and you should follow the instructions in the letter as to how to respond.
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