Guest moltengator Posted March 25, 2004 Posted March 25, 2004 Law firm is a partnership owned by two partners - Partner A-50% & Partner-B 50%. Partner A also owns 100% of P.A. which is an S-Corp. Partner B also owns 100% of P.A. which is an S-Corp. Non-Partner C owns 100% of P.A. which is an S-Corp. Non-Partner D owns 100% of P.A. which is an S-Corp. The Partnership sponsors a safe-harbor 401(k) plan which is treats all four S-Corp.'s as affiliated employers. The safe harbor is a 3% non-elective. Non-Partner C is no longer affiliated with partnership. Leave on March 31, 2004. Does he have to receive safe-harbor non-elective for 2004? If yes, is it based on his W-2 compensation from his S-Corp. for the period 01-01-2004 to 03-31-2004? He does not get paid from the partnership.
Guest rhp Posted March 26, 2004 Posted March 26, 2004 First off, why is C in an affiliated service group if it does not own any portion of the partnership? Hasn't C's corporation adopted the plan? And C hasn't terminated from the C corporation has he? Does C wish to continue the plan for its employees?
Recommended Posts
Create an account or sign in to comment
You need to be a member in order to leave a comment
Create an account
Sign up for a new account in our community. It's easy!
Register a new accountSign in
Already have an account? Sign in here.
Sign In Now