Client is a single member LLC (disregarded for tax purposes) and we're exploring a retroactive S-election to be taxed as an s-corp. The LLC name, EIN, and address will all be the same. We're getting advice that the plan documents need to be retro-amended, but I'm finding conflicting information. Questions are:
1. With the LLC name, EIN, and address staying the same, will any plan documents need to be amended?
2. If the s-election is for the entire year and no wages are paid (nor distributions taken), how should the prior year contributions be treated? Withdrawn as excess?
