Facts
When we set up our 401(k) plan, our partnership operated on a fiscal year that ran from July 1st to June 30th. We set the 401(k) plan year to line up with our company’s fiscal year. We recently changed our company’s fiscal year to follow the calendar year and didn’t think to notify our TPA to discuss the impact to the Plan. Now, they are asking for annual census information (including compensation) in order to prepare the profit sharing allocation and complete the required testing.
