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Funding Method: Bank Account Set Up
See the steps to establish an automatic debit account; an account that is a sponsor bank account for which Fidelity has been authorized to initiate electronic debits for the purpose of funding contributions, loan repayments, and other plan payments.
6:31
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Reviewing Plan Year End Summary Reports in PSW
The Plan Year End Summary package provides the information about the plan assets Fidelity recordkept during the plan year and has been designed to assist with the preparation of the Form 5500 and related schedules.
4:51
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Auditor Access to PSW
For an Auditor or a 3rd party to receive access to PSW®, the plan sponsor must complete the Fidelity PSW® Auditor Access form.
4:07
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The Nondiscrimination Testing Process
All qualified retirement plans must comply with the Internal Revenue Code’s nondiscrimination requirements. Compliance is demonstrated through a process called ‘nondiscrimination testing’ or NDT.
7:00
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Prior Year Versus Current Year Testing Methods
Understand the difference in testing methods, Prior Year versus Current Year.
6:16
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5500 Road to Success
One important regulatory responsibility you have as the plan sponsor of a qualified defined contribution retirement plan is to ensure the plan’s Form 5500 is filed each plan year.
5:44
