Foreign owned California corp

[flosfur]

A company residing in the Cayman Islands owns all of ABC Corp., a California corp.

ABC has only one employee who is the president/secretary etc of ABC but not a shareholder of ABC or the parent company.

ABC sponsor's a DB plan. This is a one-person plan covering a non-owner employee.

1. Does one file 5500-EZ or 5500?

2. Is the plan covered by the PBGC (assume ABC is not a Professional service employer) since the covered employee is not a substantial owner?

[Belgarath]

Not sure about the PBGC coverage without checking first, (my recollection is that coverage would be required) but definitely not eligible to file an EZ - must file a 5500.