Generally, the accounting for a reallocation under alast man standing arrangement is effectively treated as a forfeiture of an award by one employee and regrant of options to the other employees. WebQuickBooks: Official Site | Smart Tools. that after those five breaks, if an employee is rehired, he will have to start Journal Entry: A transaction log of unique or recurring items. No Reproduction Without Prior Authorizations. It is also important for top-heavy plans to be aware that the allocation of forfeitures can trigger the top-heavy minimum contribution if key employees share in the allocation. is a safe harbor allocation formula, Richter points out. Your company is just a conduit for getting that $400 to the plan, just as if it were a regular EE wage deferral. You cannot just let them accumulate, and your best bet is to use them as soon as feasibly possible. I agree. Forfeiture balance should be reviewed on an ongoing basis, Are you a larger filer that requires annual CPA audit? Richter points out if forfeitures are reallocated reinstate account balances of participants who previously had their non-vested You may be able to pay audit,



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