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Controlled Group


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Company A owned 50% each by husband and wife has had a SIMPLE IRA plan for several years.

THey set up another company in 2010 owned 25% each by husband and wife and another 25% each by 2 other non related businessmen.

Do they need to cover the new company in the plan ?

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What you describe is not a controlled group, barring unusual attribution from stock options, etc...

Even if not a CG, it might possibly be an affiliated service group, but that's very specific to facts and circumstances, and you should have their attorney make a CG/ASG determination anyway.

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If the wife from Company A had a baby with each of the two businessmen from Company B (while still married to the Company A guy), then I would say you have a controlled group. Sorry, couldn't resist this now that 3/15 has passed. I actually had a similar circumstance once, but not to this extreme.

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If the wife from Company A had a baby with each of the two businessmen from Company B (while still married to the Company A guy), then I would say you have a controlled group. Sorry, couldn't resist this now that 3/15 has passed. I actually had a similar circumstance once, but not to this extreme.

Thanks, I really needed a good laugh.

"Great thoughts reduced to practice become great acts." William Hazlitt

CPC, QPA, QKA, ERPA, APA

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