Guideline will automatically stop collecting contributions once service has been terminated. However, after final contributions have been made to your company's 401(k) plan with Guideline, you may still see 401(k) deduction codes and other data from our integration left over in your payroll records.
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If you are transferring your plan to a new service provider, these contributions should be collected by them. Please confirm with your new service provider that these contributions are being collected appropriately and work with your payroll vendor to ensure that the correct codes are populated in their system.
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If you are terminating your plan there are 2 reasons 401(k) contributions may still be showing in your payroll system. The first is that there were additional payrolls that occurred between when you completed the termination request paperwork and the effective date of the plan termination. If the effective date has passed, Guideline will have discontinued our collection of contributions. However, you may need to take additional steps with your payroll vendor to ensure these amounts are no longer being removed from the employee’s paycheck. If amounts were removed from an employee’s paycheck past the plan’s termination date you will need to work with your payroll vendor to correct the issue. Guideline would not have received these funds so there is no correction needed on the plan side.