Common plan administrator questions

How do I navigate the participant dashboard?

Educational videos are available in the Resource Library for each participant to become familiar with the participant dashboard.  

How do I amend my plan?

Many plan provisions such as eligibility and employer matching contribution levels can be changed at any time by reaching out to our Plan Administrator Support team. You can also update your company level information and change your administrators. 

What is a 5500?

The Form 5500 is an annual informational tax return for your plan that is required to be filed with the IRS.

What is Compliance Testing?

Compliance testing is required to ensure plans are offered to employees on a nondiscriminatory basis. Plans who exceed contribution limits will need to refund participant contributions or make required employer contributions. See these articles to learn more about compliance testing.

How do I contact Guideline?

See this article for our contact information and operating hours.

How and when can I change my payroll provider in Guideline?

To change your payroll provider, please contact us at least one week prior to running payroll with your new provider. We will share more information to make the payroll change process smooth for you. See this article to learn more about our payroll integrations.

What if contributions are missed during a payroll run?

In the event of operational errors resulting in excess employee deferrals or employer contributions being remitted to your plan, there is IRS guidance for correcting such errors in the Employee Plans Compliance Resolution System. See this article to learn more about correcting errors that are not “improper mistake of fact” requests.

How do we change company information?

Clients can change their entity name, employer identification number, entity type, address and phone number directly on their administrator dashboard in the settings tab. Name and EIN changes will require supporting documentation and the Trustee will need to approve any the changes within their Guideline Dashboard. 

What are the eligibility requirements for employees to participate in our plan?

With Guideline, there is an 18-21 age minimum requirement and months of service options of 0, 3, 6 and 12 months. Please note we do not differentiate between part-time, seasonal, intern and full-time employees. See this article to learn more about eligibility requirements.

What is automatic enrollment and how does it work?

Participants who do not enroll or opt out of the plan are automatically enrolled at the plan’s default contribution rate when they become eligible. 

Important Dates

  • January 1 - Start date for new safe harbor plans (Deadline to setup is November 30 of the previous year)
  • March 15 - ADP corrections deadline
  • April 15 - Tax filing deadline unless an extension is filed (10 business days before tax filing to elect profit sharing) 
  • July 31 - 5500 filing deadline unless an extension is filed
  • October 1 - Deadline for new plans with Safe Harbor 
  • October 15 - 5500 filing deadline for extension
  • November 2 - Deadline to notify employees w/ Simple IRA plans
  • November 15 - Last day Guideline can accept new plan start dates for 2020
  • November 30 - Deadline to make Safe Harbor changes for existing plans for the upcoming year
  • December 31 - Deadline to change profit sharing formula 

See this to learn about additional 2020 401(k) deadlines for plan administrators.

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