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Thank you and understood... for informational purposes only. Reading your reply I see that the key word is "cover". If an employee is not "covered" then they don't count (to put it simply). If only owners are covered then the plan is eligible to file a form 5500-EZ. I also understand the form 5500-SF requirement you are explaining. If the plan has an active employee who is covered but has no balance then a 5500-SF is required. If a terminated employee has a balance in the plan left behind after they left then a form 5500-SF is required, until that balance is distributed. Got it. If I understand, starting with 2021 the requirement can still be 1,000 hours BUT if an employee works 3 consecutive years where they worked 500-999 hours then they meet the new secure act 500 hour provision and are now eligible to participate in year 4? Is the above only for salary deferrals to allow employees the ability to save for themselves? or does the secure act 500 hour rule count with regards tor employer contributions?

I have been tasked to understand/learn some pension basics. This site was recommended to me as the authority when it comes to all things pensions. Thank you for your help. a one participant plan is one where there are no employees other than the owner (and spouses and partners) If there is an employee but they just don't meet the eligibility requirement of 1,000 hours to enter the plan, is it still a one participant plan? And if that is true, then a form 5500-EZ is only required And as long as that one employee stays under 1,000 hours the plan will continue to be a one participant plan? if a one participant plan has an employee who has met the eligibility requirements, regardless of whether they have made a salary deferral, the plan must file a 5500-SF, correct? they would be a participant, just no plan balance. If the employee defers compensation in 2021 (meaning they have a plan balance) and they terminate in 2022, as long as their plan balance is in the plan do they need to file a form 5500-SF? Is it safe to say that any plan that is required to file a form 5500-SF is entitled to title 1 ERISA protection? I'm sure I will have additional questions. I don't want to be the source of misinformation.