Subject: 2025 Plan Year-in-Review with Aboon - what’s next
Hi [Client Name],
Here's a quick rundown of what you need to know to wrap up 2025 and get 2026 off to a great start. We handle most administrative tasks behind the scenes throughout the year. You'll hear from us when we need your input or action. For a quick reference on key dates and actions requiring your attention in 2026, click here.
Before we dive in, let me introduce myself. I am Bryant Hall, ([email protected], 646-466-0165 x106) - your primary relationship manager at Aboon going forward. I will be your main contact for plan support and questions, working closely with your financial advisor.
A Few Actions for You
[Only for Sole Proprietorships, Partnerships, or LLCs taxed as disregarded entities]:
Self-Employed? Document Your Contribution Elections Before Year-end
For owners with self-employment income, IRS rules require 401(k) contribution elections to be made before December 31. If that's you, log into your 401(k) account and document your contribution amount for 2025. If not, remind your owners to do so before year-end.
Plan Year-in-Review 2025
In late January, we'll invite you to log into your Aboon portal to kick off the plan year-in-review process. You'll verify key information and provide 2025 payroll data, and we'll complete required tests and calculate contributions. To prepare:
Review your 2025 payroll records for accuracy by January 31, 2026
Verify the payroll data that you send to your recordkeeper is complete and current: all employees listed, termination and rehire dates accurate, and employee contribution elections up to date
Start Thinking About Your 2025 Contributions Goals
As the year wraps up, consider:
Do you want to maximize owner contributions for 2025?
Would you like to make additional contributions to reward or recognize your team?
We'll work with you on the details in early 2026, but it's helpful to start exploring now.
Update Plan Contact Information
Log into your Aboon portal now to review current authorized users and add any new users who should have access to complete year-in-review payroll data requests. If you'd like to designate a different primary contact for year-in-review requests, let us know by replying to this message.
Send a Reminder to Your Team
Encourage your employees to take a few minutes to review their 401(k) accounts before year-end: update contact information, confirm beneficiary designations, and adjust their 2026 contribution rate if needed.
Update Your Payroll System for 2026
The IRS has released new contribution limits for 2026. Make sure these limits are updated in your payroll system so employee 401(k) deductions and company contributions are processed correctly starting in January.
On Deck - Fidelity Bond Purchase
We're purchasing fidelity bonds for your plan to align with legal requirements. The bond premium will appear on your next Aboon invoice.
Questions?
My team and I are here to help. If you have questions or just want to talk things through, reach out anytime.
All the best as you close out 2025,