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Form 5500 or 5500-SF


JoshuaP123

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Father (88%) owner and adult Son (12%) owner are the only employees of company X. They are a corporation and not a partnership. The two make their contribution as a real estate investment with no eligible plan assets. Does this need to be filed with a full Form 5500 or can it qualify for a title 1 waiver?

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"Adult Son" doesn't really matter here, but you do have two owner-employees (each owns 10%+) which I think allows you to file an EZ (or not file if assets less than $250k) - i.e., Title 1 exemption. 

I'd be wary of what the "real estate investment" was to make sure no PT issues, e.g., they didn't contribute the family lake house, summer camp, time share, etc.

Kenneth M. Prell, CEBS, ERPA

Vice President, BPAS Actuarial & Pension Services

kprell@bpas.com

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