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Antioch California online Form 5500 - Schedule H: What You Should Know
The Plan Sponsor is required to establish the applicant as a plan sponsor. An ADU could not have been filed if the Plan Sponsor did not qualify. For the applicant to qualify as a plan sponsor, the Plan Sponsor must be an incorporated Business for the tax year in which the ADU is filed. If the Plan Sponsor failed to certify in any previous year, then, in order to qualify for this year's certification, it must file: the previous year's tax return for the year in which the ADU was filed, if any. If the annual return for the year before the application was filed does not have an annual return to report, the Plan Sponsor must file a new return for the tax year in which the ADU is filed. An ADU must be filed by April 4 of each calendar year to qualify for certification of the ADU as a plan sponsor. If the ADU is filed after this date, it will not qualify the year you file it. The ADU must have a minimum of five employees. The annual benefit is calculated using the employee's annual salary as reported on line 3 of Form 5500. The total benefit is the present value of the annual benefits for each employee and is limited to five (5) times the salary of the employee in the first tier and 25% of the salary in the second tier. The ADU is allowed up to 50% of the first tier and 25% of the second tier, to be paid after the year in which the plan is certified. Any amount that is not paid is forfeited. Any amount that is paid exceeds the annual benefit and is treated as an advance payment. The ADU is treated as having been paid on the first day for which the employee is eligible to receive the advance payments. If the ADU is filed after April 4 of each year, but not before the month in which the year has ended, the ADU will be considered filed on the first of the following calendar months; if April 1 is not a payment month, the ADU is considered filed in February, June, August, January or March. For more information regarding the filing requirements of an ADU, see 8 CFR 312.100 – 312.120. Schedule I(Form this form is required to be filed under section 104 of the Employee C Plan sponsor's name as shown on line 2a of Form 5500. App.
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