Navigating the intricacies of regulatory compliance and tax obligations involves a plethora of forms and documentation, amongst which the Form 886A holds a pivotal place. Issued by the Department of the Treasury - Internal Revenue Service, this form serves as a critical tool in detailing and explaining items or schedules concerning a taxpayer's obligations and entitlements. Particularly relevant in circumstances involving the review of employment records and eligibility under section 403(b) plans, the 886A form intricately delves into whether organizations have adhered to the universal availability requirement as stipulated in section 403(b)(12)(A)(ii) of the Internal Revenue Code. It requires a nuanced explanation of the method utilized for reviewing employment eligibility, outcomes of such reviews, and, if applicable, details concerning the failure in meeting these requirements, including the groups of employees affected. Additionally, it explores whether corrective contributions to the section 403(b) plan were made, demanding an elaborate description of the corrective measures employed, the determination of contribution amounts, and the vesting percentages applied. With spaces for comprehensive responses and a section for the contact information of the person completing it, the form embodies a structured approach towards rectifying and reporting compliance issues, significantly influencing the fiscal and operational transparency of organizations.
| Question | Answer |
|---|---|
| Form Name | Form 886-A |
| Form Length | 1 pages |
| Fillable? | Yes |
| Fillable fields | 19 |
| Avg. time to fill out | 4 min 7 sec |
| Other names | form 886 a schedule c 4 pdf, form 886a, irs form 886 a may 2017, form 886 a fill in |
Form 886A |
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Department of the Treasury - Internal Revenue Service |
Schedule No. or |
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Explanation of Items |
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Exhibit |
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Name of Taxpayer |
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Year/Period Ended |
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Please provide the following information:
1)After receiving the
Yes
No
a)If no, please explain your method of review and your results (include why there was no failure). [After completion of this response, proceed to the Contact Name section below]
______________________________________________________________________________
______________________________________________________________________________
b)If yes, please indicate the employee group(s) and number of eligible employees affected by the failure. For Example: Substitute Teacher – 4 affected employees, Nurse
______________________________________________________________________________
______________________________________________________________________________
2) Was a contribution made to the section 403(b) plan to correct the failure?
Yes
No
a)If no, please explain why not.
______________________________________________________________________________
______________________________________________________________________________
______________________________________________________________________________
b)If yes, please provide the total dollar amount and date of this contribution.
______________________________________________________________________________
______________________________________________________________________________
______________________________________________________________________________
Form
Form 886A |
|
Department of the Treasury - Internal Revenue Service |
Schedule No. or |
|
Explanation of Items |
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|
Exhibit |
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Name of Taxpayer |
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Year/Period Ended |
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3)Describe the specific process used to correct the failure (include the method used to determine the dollar amount of the contribution and the vesting percentage applied to it).
______________________________________________________________________________
______________________________________________________________________________
______________________________________________________________________________
______________________________________________________________________________
Contact Name (please print) ______________________________________________________
Signature of Person Completing this Response _____________________________________
Title ________________________________ Phone Number ____________________________
Form