KevinMc Posted January 26, 2015 Share Posted January 26, 2015 Does a person who has a self employed 401-k (This is the term Fidelity uses) have to file a form 5500 if the assets are less than $250,000? Is this rule different than if a person has a traditional 401-k with multiple participants? Link to comment Share on other sites More sharing options...
Tom Poje Posted January 26, 2015 Share Posted January 26, 2015 well, the instructions for form 5500-ez still say: Who Does Not Have To File Form5500-EZYou do not have to file Form 5500-EZ for the 2014 planyear for a one-participant plan if the total of the plan'sassets and the assets of all other one-participant plansmaintained by the employer at the end of the 2014 planyear does not exceed $250,000, unless 2014 is the finalplan year of the plan. this holds true even if you were to file the 5500-sf as a one participant plan (which is simply the IRS way of getting you to file a 5500-ez electronically.) if you have other 'participants', then you can't file the EZ, so it wouldn't matter what the balance is. Link to comment Share on other sites More sharing options...
mbozek Posted February 26, 2015 Share Posted February 26, 2015 I thought that the one participant plan with less than 250k in assets was exempt from the 5500 filing if the only other participant was the spouse. mjb Link to comment Share on other sites More sharing options...
Lou S. Posted March 2, 2015 Share Posted March 2, 2015 Does a person who has a self employed 401-k (This is the term Fidelity uses) have to file a form 5500 if the assets are less than $250,000? Is this rule different than if a person has a traditional 401-k with multiple participants? If the self-employed person (or them and their spouse) are the only eligible participants and assets are less than $250K then you do not have to file form 5500 series, If you have even 1 eligible participant who is not the owner or their spouse employed, you have to file Form 5500 or Form 5500-SF no matter how small the assets are. I believe this is probably the exact same answer that Tom is quoting above. Link to comment Share on other sites More sharing options...
Recommended Posts
Create an account or sign in to comment
You need to be a member in order to leave a comment
Create an account
Sign up for a new account in our community. It's easy!
Register a new accountSign in
Already have an account? Sign in here.
Sign In Now