runningabizness

Appreciate the help here so far. My plan for now: 1) FIle a 2019 5500-EZ under penalty relief program for each entity 2) Restate plan of 1st entity as described above 3) 2nd entity signs a resolution to merge its plan into the restated plan of the 1st entity 4) Both entities sign a resolution adopting the new plan 5) File a 2020 5500-EZ for the new control group plan and file another final 5500-EZ for the 2nd entity plan that was merged away Hope I'm mostly on the right track now. Thanks much.

Thanks for your response, I am just realizing that there probably should have been a 5500-EZ filed for 2019 because the assets of both plans of the controlled group combined were over $250k.

Thanks for your reply. I'm a little confused about filing a final return for the 2nd entity's plan. Does merging into the newly restated plan under the 1st entity's name really count as a termination of the 2nd entity's plan? The 2nd entity will be making contributions to the new plan in 2021. There won't be any distributions, all existing funds will be rolled into the new plan. Also neither entity has ever been required to file previously.

Hoping someone can point me in the right direction here please. There is a controlled group of 2 entities. Both entities have an existing basic solo 401k plan with a brokerage firm. The goal is to restate those plans into one custom solo 401k plan that either entity can contribute to as part of the controlled group. The new plan document lists the original effective dates for both plans, specifies that it is restating a previously-adopted plan and creates a new trust for the plan effective in 2020. The plan administrator/sponsor is the 1st entity. The plan also states that members of a controlled group can contribute to it. I know the new plan will need to file a 5500-EZ for 2020 because the assets will be over $250k. I believe that both entities need to sign a resolution to adopt the plan. Is there anything else that needs to be done? Particularly for the 2nd entity because its own plan is basically going away and merging into the new plan under the name of the 1st entity?