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Get a Guideline 401(k) plan through QuickBooks Desktop Payroll

SOLVEDby QuickBooks5Updated 1 year ago

Learn how to buy and set up a Guideline 401(k) plan.

Retirement plans are a great benefit for your employees.  We have partnered with Guideline to offer you affordable, fully integrated 401(k) plans in QuickBooks Desktop Payroll.  

You can select a plan that works for your business and your team and set it up in QuickBooks. Once you’re set up and run payroll with your new contributions, the info and contributions are sent automatically to Guideline, so there’s no extra steps for you. 

Step 1: Verify or add employee and business info

Before you select a 401(k) plan, make sure the following info Guideline needs is added to your employee profiles in QuickBooks. This info is required to use Guideline 401(k)

  • First and last name
  • Social Security Number
  • Hire date
  • Birth date
  • Employment status 
  • Pay rate / Salary
  • Email address

You’ll also want to verify your business info in QuickBooks

  • Business legal name and address
  • Federal Employer Identification Number (EIN)
  • Entity type (Corporation, Sole Proprietor, etc)
  • Principal Officer first and last name and email address
  • Business bank account username and password or routing and account numbers 
  • Number of pay schedules you use to pay your employees
  • Number of active employees on payroll

Step 2: Buy and set up a Guideline 401(k) plan

Once you’ve added and gathered the necessary info, you’re ready to buy a plan and get it set up.

  1. Sign in to your QuickBooks company file as the Primary Administrator.
  2. Select Employees, then Payroll Center
  3. Select the Employee Benefits tab. 
  4. From the 401(k) plan card, select Learn More.  You may need to sign in to your Intuit account to view the plans. 
  5. Select the Build your plan button.  This launches the Guideline web site where you’ll enter your business info and then choose the 401(k) plan that works for you and your team. 
  6. Follow the on-screen instructions to set up your plan.  Some of the forms will be pre-filled with your info from QuickBooks. If any of this info is incorrect, or missing, close the web site and fix it in QuickBooks.

If you have questions about 401(k) plans, call Guideline at (888) 228-3491 or email: hello@guideline.com.

Next steps / manage your plan

Now that you’re set up and connected with Guideline, you’ll see Guideline 401(k) payroll items on your employee profiles and in your payroll item list. As you run payroll and send it to Intuit, the 401(k) info will also be sent to Guideline automatically and contributions will be debited from the bank account you set up.  

Make changes to your plan

You'll have access to your 401(k) plan dashboard through Guideline. If you need to make any changes, you'll do it through the dashboard.

Your employees can make contribution changes through their own Guideline participant account.  

To sync these changes from Guideline:

  1. Sign in to your QuickBooks Desktop company file as the primary or payroll administrator.
  2. Select Employees, then Employee Benefits. Then select Sync 401(k) data with Guideline

If you have questions about your dashboard or changes to plans, call Guideline at (888) 228-3491 or email: hello@guideline.com.

Settle Guideline 401(k) liability

You’ll need to create a payroll liability check in QuickBooks to settle your Guideline 401(k) payroll liabilities. But you won’t send that check to Guideline.  The liability check is to make sure your payroll reports are accurate and liabilities are reconciled.  See Pay your non-tax liabilities in QuickBooks Desktop Payroll.

Disclaimer: Guideline 401(k): 401(k) offerings are provided and administered by Guideline, an independent third party and not provided by Intuit. Intuit is not a 401(k) plan administrator, fiduciary or other provider. Requires acceptance of Guideline's Client Relationship Summary and Privacy Policy. Additional 401(k) plan fees will apply. Employees may manage their contributions directly with Guideline. Admin and payroll access required to sign up for a 401(k) plan with Guideline.

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