Our office is in the process of creating a 412(i) procedural list for implementing 412(i) plans. We are seeking any suggestions, specifically concerning the following:

1. The advantages / disadvantages of establishing the plan on a beginning or end of year valuation date?
2. Can the plan be established in mid-year, and if so, can compensation be used for the entire plan year?
3. Can the annuity and/or insurance premiums be paid quarterly or must they be annual?

I appreciate your input!

Richard