 Always get EIN for Plan? |
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 Feb 15 2008, 12:37 PM
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#1
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Registered User Group: Registered Posts: 543 Joined: 19-January 00 From: Michigan Member No.: 3,471  |
For a long time, I have always applied for an EIN for every Plan I administer. THis is easy, but it does take some time.
When using one of the 401(k) Platforms such as John Hancock, ING or Hartford, they do the 1099's , 1096's and 945's using their EIN. Does anyone see any reason to apply for a plan EIN under these circumstances? |
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Feb 15 2008, 12:55 PM
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#2
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Registered User Group: Registered Posts: 2,138 Joined: 23-July 06 Member No.: 16,532 |
To have 1099's , 1096's and 945's for the plan separate from the employer's payroll is the only reason that I've ever applied for a plan to have its own EIN. Where John Hancock is handling those forms using its own EIN as the payor, I can see no reason for such a plan to have its own EIN (as opposed to identifying the plan by the employer's EIN/three digit number whenever needed).
-------------------- John Simmons
jsimmons@ida.net Note to Readers: For you, I'm a stranger posting on a bulletin board. Posts here should not be given the same weight as personalized advice from a professional who knows or can learn all the facts of your situation. |
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