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Showing results for tags 'foreign'.
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An employee was recently moved from a foreign entity to the US entity of the same company that sponsors a 401(k). They are a resident non-citizen with US income now. Should the original hire date form the foreign entity be used for crediting service for vesting? Or the date that they moved to the US and began employment with the US entity? The plan document is mum on the topic; no provisions that state how to credit service based on service at the foreign entities. The plan has immediate entry but ER contributions have a vesting schedule. Thank you in advance. -
Hello All - Longtime lurker, first time poster. I really appreciate all of the insight from this forum. My question: Canadian based company has a few US Employees, they are Sales People located throughout the US. They want to provide similar benefits to their US Employees like they do to their Canadian Employees. They are inquiring about a startup 401k Plan. Assuming they have an EIN would it be feasible to create a start-up 401k Plan for these employees? I don't see a reason why they can't but I have zero experience with a Foreign Company setting up a new 401k Plan so I want to make sure I am not missing something. If there is an alternative suggestion to a 401k I would be all ears as well. Thank you very much.
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Do the family attribution rules (for controlled group purposes) apply between a family member residing outisde the United States who is not an American citizen and a family member residing in the United States?
