Terms of service
These terms are an agreement between you and The Maxed Company Inc. (“Maxed”, “we”). They cover your use of our website, the estimate tool, and the plan services you buy from us. By using the site or paying a deposit you agree to them.
1. What Maxed does
Maxed provides software and administrative services for cash balance plans sponsored by businesses whose only workers are owners and their spouses. Our services are: designing the plan, providing plan documents, calculating contribution ranges, arranging certification of the annual valuation by an independent enrolled actuary, and preparing the forms and filings the plan requires.
2. What Maxed does not do
Maxed is not a law firm, an accounting firm, an investment adviser, a broker-dealer, a custodian or a trustee. We do not give tax, legal or investment advice, and nothing on the site should be read as advice. We do not hold, manage or have access to plan assets. We are not the plan administrator or a fiduciary of your plan.
3. Your role
Your business is the plan sponsor. You are the plan administrator and the trustee. That means you are responsible for:
- giving us accurate and complete information, and telling us promptly when it changes, in particular if the business hires anyone or you acquire an interest in another business;
- reviewing, signing and filing the documents and government forms we prepare, by their deadlines;
- making at least the minimum required contribution each year, on time;
- opening and maintaining the plan’s brokerage account and deciding how plan assets are invested;
- keeping copies of plan records.
4. Eligibility
Our services are available only to businesses with no employees other than owners and their spouses, taking into account any related businesses that tax law treats as a single employer. If that stops being true, tell us before it happens where you can. We may end our services for a plan we can no longer support, and we will help you move it to another provider or close it.
5. Estimates
The estimate tool produces illustrations based on the answers you give and on stated assumptions. An estimate is not a contribution amount you may rely on for a tax return and is not reviewed by an actuary. Your actual contribution range is set by the annual actuarial valuation and may be higher or lower.
6. Fees, deposit and refunds
- The fee is $2,499 per plan year.
- For your first year you pay a $499 deposit when you reserve your plan and the remaining $2,000 when your plan documents are ready to sign.
- The deposit is fully refundable for any reason until you sign your plan documents. Email us and we will return it to your original payment method.
- After the first year, the annual fee is charged at the start of each plan year. We will remind you beforehand, and you can cancel before any renewal.
- Fees charged by others, such as your brokerage firm, are not included.
7. Accuracy of our work
We prepare calculations and documents with care, and the annual valuation is certified by an enrolled actuary. Our work depends on the information you give us. We are not responsible for errors that result from inaccurate, incomplete or late information.
8. Limits on liability
To the extent the law allows, Maxed’s total liability for any claim arising from the services is limited to the fees you paid us in the twelve months before the claim arose, and we are not liable for indirect or consequential losses, including taxes, penalties or investment losses.
9. Ending the agreement
You may stop using Maxed at any time. We will give you the plan records we hold. Ending our services does not close your plan; the plan remains in place and remains your responsibility until it is formally terminated.
10. Changes
We may update these terms. If a change is material we will email you before it takes effect.
11. Contact
The Maxed Company Inc.
hello@maxedplan.com