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New owner of plan sponsor is a sovereign nation


K2retire

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I contacted a client who is delinquent in sending their census information for 2016. It's a safe harbor plan, so testing refunds are not a concern. I asked about a tax return extension to decide if I needed to be concerned about the getting them contribution numbers by March 15.

During 2016 the plan sponsor was bought out. They responded by saying that the new owner is a sovereign nation and does not file a tax return. Based on questions that they asked before the buy out, I know that this is somehow related to being owned by a native American tribe. But it is a payday loan company and not in any way related to tribal government.

Do any of you who are more tax savvy than me have any idea what they're talking about?

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I'm not. But Carol Cochran with ABG Southwest is very familiar.

Here's their website: http://www.abgsw.com/

Not sure if she would help, but she's a pretty nice person. Might be worth reaching out.

You can see on their website that Tribal Services is one of their specialties.

Tell her I said hello.

William C. Presson, ERPA, QPA, QKA
bill.presson@gmail.com
C 205.994.4070

 

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  • Dave Baker changed the title to New owner of plan sponsor is a sovereign nation

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