BG5150

FWIW: I agree.

Why would I mark it 'final'?

They don't know any better? They think they are giving their EEs a fair choice? Bad advice? Or they truly have a valued Employee who, for perhaps religious reasons, do not want to be invested in interest bearing investments? Or, they have Employees who would lose SSI benefits if they get any sort of allocation to the plan?

Two S-corp owners: the only thing on their W2 was the S-Corp Health Insurance. Does that count for plan comp, or do we exclude it and they have zero comp for the year?

Turns out, it may be an S-corp....

We use an FTW doc, and it's an option in the Adoption Agreement. But, has anyone seen any legals cases where, when the plan failed coverage and was forced to include someone who had opted out and the person sued?

Good point.

And I would ask what exactly the DOL told her, and if she could provide some sort of cite. Maybe you could call the DOL and ask.

Does the document allow for (ir)revocable elections to forsake participation?

The instructions for the SF says who may file the form: The instrux go on further to say those who cannot file the SF must file either 5500 or EZ. The plan in question is only 2 people. So it qualifies under the first bullet. It does not say the plan cannot be a one-participant plan. So why can't we just file the SF?

How would they even know?

They are under $250k ($248, lol) But the've filed SF's in the past b/c they had an employee. I'd rather file some form than just skip it and have to deal with that IRS letter. What's the penalty if they file SF and not EZ?

Do they have to? They may hire someone soon. Will there be a problem going between SF to EZ to SF...?

LLC taxed as partnership

If the plan covers a 100% owner and spouse can/should we use code 3B on the 5500-SF?