Brenda Wren Posted November 19, 2003 Posted November 19, 2003 Under the new EGTRRA definition of a key employee, is it a 5% shareholder or a MORE THAN 5% shareholder?
Brian Gallagher Posted November 19, 2003 Posted November 19, 2003 in my vast (lol) experince with retirement plans, 5% owner is the IRS definition of 5% owner which counterintuitively is MORE than 5% ownership. so in confidence, i would say under EGTRRA it is the same definition. Remember: two wrongs don't make a right, but three rights make a left.
Brian Gallagher Posted November 19, 2003 Posted November 19, 2003 ooops. "experience" Remember: two wrongs don't make a right, but three rights make a left.
Alf Posted November 19, 2003 Posted November 19, 2003 416(i)(B)(i) defines it as "more than 5 percent."
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