Guest mk2308 Posted May 9, 2005 Posted May 9, 2005 Just found out a client of ours had a recent ownership change will now makes them a member of a controlled group. Our client has a 401(k) plan and one of the other members has a SIMPLE IRA plan. Does the transition rule come into play? Does the member who has the SIMPLE IRA continue to make contributions into that plan? Or can the SIMPLE plan be discontinued and the member adopt the 401 (k) plan?
Guest mk2308 Posted May 9, 2005 Posted May 9, 2005 Just found out they have to maintain the plans separately.
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