Guest scotlyn911 Posted November 14, 2009 Posted November 14, 2009 Assuming the plan's trust is a domestic trust, can a foreign corporation sponsor a 401(k)?
GBurns Posted November 14, 2009 Posted November 14, 2009 What do you mean by "foreign corporation" ? For example let us say Bayern AG, a German corporation, cannot just start business in the US with US employees, as it feels. It has to register in a state etc and get an IRS EIN number etc etc. No one is able to just start doing business when, where or how they feel, foreign or US. George D. Burns Cost Reduction Strategies Burns and Associates, Inc www.costreductionstrategies.com(under construction) www.employeebenefitsstrategies.com(under construction)
Guest scotlyn911 Posted November 14, 2009 Posted November 14, 2009 What do you mean by "foreign corporation" ?For example let us say Bayern AG, a German corporation, cannot just start business in the US with US employees, as it feels. It has to register in a state etc and get an IRS EIN number etc etc. No one is able to just start doing business when, where or how they feel, foreign or US. Assume the foreign corporation has a branch office in the US. They have an EIN, and operate under a fictitious name, but they do not register under state law. The only business the US branch office conducts is sales for the benefit of the foreign corporation. Assume further that the US branch office is not considered an "employer" under 401(a) despite the EIN and issuance of W-2s to US branch salesmen.
J Simmons Posted November 14, 2009 Posted November 14, 2009 Assume further that the US branch office is not considered an "employer" under 401(a) despite the EIN and issuance of W-2s to US branch salesmen. Why that assumption? Isn't that really your question? John Simmons johnsimmonslaw@gmail.com Note to Readers: For you, I'm a stranger posting on a bulletin board. Posts here should not be given the same weight as personalized advice from a professional who knows or can learn all the facts of your situation.
J Simmons Posted November 14, 2009 Posted November 14, 2009 A non-U.S. employer but that derives income generated in the U.S. from employees in the U.S. may have a 401(a) QRP. There are Revenue Procedures that once detailed a different address for determination letter applications if the QRP was sponsored by a foreign employer, and past IRS Form 5500 instructions mention a foreign employer in certain regards. Registering as a foreign corporation in one or more states in the U.S. is a matter of state law (which the foreign company may be in violation), but it has an EIN and has a U.S. payroll for those U.S. branch salesmen. It is an employer for 401(a) purposes. John Simmons johnsimmonslaw@gmail.com Note to Readers: For you, I'm a stranger posting on a bulletin board. Posts here should not be given the same weight as personalized advice from a professional who knows or can learn all the facts of your situation.
Guest darknight Posted December 26, 2011 Posted December 26, 2011 Hello everyone I am new to this forum. THANK_FOR_ALL
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