Guest RJM Posted July 19, 2002 Posted July 19, 2002 QUESTION: Calendar year 5500. Bank A is Trustee from Jan 1 thru Jun 30. Bank B is successor Trustee from Jul 1 on. Are two schedule P's required?
Guest stryan Posted July 19, 2002 Posted July 19, 2002 No Schedule Ps are REQUIRED to be filed. But to start the statute of limitations clock ticking, I would recommend having both trustees sign Schedule Ps for filing.
jpod Posted July 19, 2002 Posted July 19, 2002 I seem to recall that the person who must sign the P in order to start the SOL running is the person who is the trustee/custodian (or one of the trustees/custodians) at the time the 5500 is filed. However, I don't know where that is written, if at all.
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