Tax I.D. Number on 5500

[KateSmithPA]

A client just informed me that the tax id number that is listed on their Form 5500 is the number for one of the companies that is part of their controlled group, but it is not the tax id number for the company whose name is on the plan. That is, this company is made up of a few companies, but all are a controlled group and all covered by the same 401(k) plan. The name of the plan is ABC 401(k) Plan. The tax id number used on the 5500 belongs to DEF company - one of the companies in this controlled group.

Does this matter?

Thanks for your help.

[Guest b2kates]

Practically the answer is no.

However, this should be corrected. Likely only an issue should the plan sponsor be audited to trace the contributions and the deduction on the tax return.

[Guest Ben S]

Im with B2. You might want to get the "housekeeping" done by fixing this on the 5500, if only to get it right in the IRS/DOL database going forward.

[bdeancpa]

When you say "name on the plan" do you mean ABC Co. is in the plan name, or do you mean the plan says ABC Co is plan sponsor. It is possible to have a plan with one control group members name in the plan name and another controll group member as the actual plan sponsor. It should be the actual plan sponsor's EIN on the 5500