Guest elizabeth Posted January 11, 1999 Posted January 11, 1999 IS A FIDUCIARY BOND REQUIRED IN THIS SITUATION: THE PARTICIPANTS IN THE PLAN CONSIST OF TWO PARTNERS AND THEIR SPOUSES. THE TRUSTEES OF THE PLAN ARE THE TWO PARTNERS. THE SPOUSES HAVE NO CONTROL OVER THE ASSETS IN THE PLAN.
Guest bswift Posted January 11, 1999 Posted January 11, 1999 eliz - you need to look @ ERISA section 412, which provides the rules for fiduciary bonding. The general rule is that unless one of the exceptions apply, the fiduciary is required to be bonded.
Guest Gary Tencer Posted January 12, 1999 Posted January 12, 1999 If you qualify to file Form 5500-EZ, you do not need an ERISA bond. Based on the info you provided the client is eligible to file Form 5500-EZ, check the instructions under "Who May File Form 5500-EZ" Item #1 ------------------
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