Schedule C Keogh and LLC income

[Guest kprhok]

A client with Schedule C income recently set up a one person LLC and plans to report all income on Schedule C. He has an existing Keogh. I understand he obtained a Taxpayer ID for the LLC. I am wondering if anything needs to be done to the KEOGH plan adoption agreement - is this a new adopting employer even if all income is going to go on Schedule C? Or, do we continue with one Keogh, no changes, etc.

Thanks for feedback.

[Bird]

I would make the LLC the sponsor and credit service with the old sole prop and have the sole prop be an adopting employer just to be sure. I think the LLC is the employer, and the Schedule C reporting is just a convenience.