5500SF or 5500EZ?

[preErisa]

I have a plan with husband/wife retired, but still owning 90%, son is only other employee, he runs the business but owns 10%. Is this considered a “one-participant” plan?? There are no employees, other than son, and he is 10% owner. No other plans either. In past we filed 5500’s – it didn’t matter per se- but now with e-FAS2 I’d rather do EZ if this meets the rule, not sure.

[Bird]

Not eligible for an EZ; from the 5500 instructions about who may file an EZ: "A“one-participant plan” for this purpose is: (1) a pension benefit plan that covers only an individual or an individual and his or her spouse who wholly own a trade or business..."

[Tom Poje]

but if son is considered a partner, then maybe the EZ is available, since plan covers only partners and spouses

[Bird]

but if son is considered a partner, then maybe the EZ is available, since plan covers only partners and spouses

True that; I inferred it was a corp based on reference to "employee."