tcmc

Owner A has had the same ownership percentage in both companies for many years. No acquisition. The other owners of Company B are investors, they don't work for the company. Owner A does not take a salary from either company.

Hello, thank you in advance for your help with this. Situation: Company A, Owner A has 100% ownership. Company B, same Owner A has 85% ownership. Both companies have around 10 employees. Company A has offered a 401k since 2017, converted to SH 401k in 2019. Company B does not have any 401k Am I correct that Company A and B are in a controlled group and the 401k should have been offered to Company B since inception? If so, what is the mechanism to correct this? Would company B employees be due the SH contributions over the last 2 years? Thank you