In order for Slavic401k to service your retirement plan efficiently and facilitate the compliance testing and reporting, please supply us with only ONE file for each contribution with the following electronic information.
- The file should be comma delimited with text fields in quotes, or an Excel spreadsheet.
- A test file and employer ID list must be sent to Slavic401k prior to submitting your first deferral.
- The file should include all companies who have adopted a 401(k) plan with complete census, whether or not the employee is eligible or participating.
- Deferral, match, loan payment, profit sharing, and IRA should NEVER be negative.
- All dates should have 4-digit years.
- Any deviations from the standard format, or changes to employer ID code, must be approved by slavic401k.com.
- If your plan is safe harbor, the contribution needs to be in the proper column. If it is a 3% profit share, it must go in the profit share column. If it is a 4% match, it must go in the match column.
The file layout should be in the following order:
|Field Name||Format||Maximum Length||Example|
|PEO ID (Supplied By Slavic401k)||Text||N/A||12345|
|Client ID (Employer)||Text||30||592020202|
|Employee Social Security Number||Text||9||100101000|
|Employee First Name||Text||20||John|
|Employee Last Name||Text||20||Doe|
|Employee Address 1||Text||30||1919 W. Walnut St|
|Employee Address 2||Text||30||Apt. 103|
|Employee State Code (2-Characters)||Text||2||FL|
|Employee Zip Code||Text||9||334310000|
|Employee Home Phone||Text||10||4072419344|
|Employee Email Address||Text||100||[email protected]|
|Employee Date Of Birth||Date||Mm/Dd/Yyyy||04/03/1968|
|Employee Date Of Hire (Original Hire Date At The Worksite)||Date||Mm/Dd/Yyyy||09/11/1996|
|Hours (For Deferral Period)||Number||4 Digits||280|
|Gross Salary Before Deductions (For Deferral Period)||Number||9 Digits Total, 2 Decimals||1234.00|
|Cafeteria Benefits (For Deferral Period) *||Number||9 Digits Total, 2 Decimals||67.49|
|Employee Deferral Amount *||Number||9 Digits Total, 2 Decimals||123.00|
|Employee Roth Deferral Amount *||Number||9 Digits Total, 2 Decimals||123.00|
|Employer Match Amount *||Number||9 Digits Total, 2 Decimals||61.50|
|Loan Repayment *||Number||9 Digits Total, 2 Decimals||25.00|
|Profit Sharing Amount *||Number||9 Digits Total, 2 Decimals||37.00|
|IRA Deferral Amount *||Number||9 Digits Total, 2 Decimals||62.29|
|Employee Status (Blank For Active, ‘R’ For Rehired, Or ‘T’erminated)||Text||1||T|
|Employee Status Date (If Terminated Or Rehired)||Date||Mm/Dd/Yyyy||11/20/2014|
|Payroll Date (Must Not Be Blank)||Date||Mm/Dd/Yyyy||11/30/2014|
- No special characters (such as DASHES, COMMAS, DOLLAR SIGNS, etc) should be included with :
- Social Security Number
- Zip Code
- Phone Numbers
- No embedded quotes should be used
- DON’T use the address “100 West “E” Street”. Instead, use “100 West E Street”.
- When a person is terminated, the “Status” field should change to “T” and the “Status Date” field should reflect the date of termination.
- This data should be repeated each time that employees record is included in a deferral file.
- If a person is rehired, the “T” in the “Status” field should be removed and replaced with an “R”, and the “Status Date” should contain the date of rehire.
- The Date of Hire field should keep the original date of hire at the worksite.
- The current hours and wages for all employees must be included in the file, whether or not they are participating in the 401(k) plan.
- “Date of Birth” and “Date of Hire” fields must be included and accurate to properly calculate eligibility and vesting.
- If date of birth, date of hire, or termination information is INCORRECTLY reported on a file, you should send an email with the proper information to [email protected] in order to have it corrected
It is extremely important that we receive complete and valid data on each of your 401(k) file submissions. The integrity of this data is critical when testing for participant eligibility and plan compliance.
It is Slavic401k’s desire to provide timely and accurate plan information at all times. In order to accomplish this, we need to ensure that the data provided to us is complete and accurately reflects the status of all employees who have been on your payroll during the year. Without such information, it is impossible for slavic401k.com to provide the full service that you need.
Thank you for choosing Slavic401k as your retirement plan administrator. We look forward to serving you in the future.