Keogh close Form 5500

[Guest Small Business Owner]

I have a 10 years old corp just one employee ( me ), .

First two years the corp contributed to Money Purchase Keough ( required ).

I stopped contribs due to reduced income and just left the funds in place. I just wrote a letter stating

corp will no longer make contribs ( to freeze plan ).

Am closing company, have to complete Form 5500 which asks how many participants

and minimum required contribs made in this year. I never filed 5500 before because

account is under 250K. it is defined benefit plan,

do I enter 0 participants / 0 minimum required contrib on the 5500-EZ ???

Thanks, Mark

[K2retire]

You clearly have 1 participant, not zero. But there are several other relevant questions.

• Is it a Money Purchase Pension or a Defined Benefit plan? It can't be both as you said.
  
• Was the letter you wrote in the form of a plan amendment?
  
• Was the document restated for GUST and EGTRRA and all of the required amendments adopted timely along the way?
  
• Has a plan termination resolution been prepared and signed?
  

[Guest Small Business Owner]

You clearly have 1 participant, not zero. But there are several other relevant questions.

Sorry yes it is Money Purchase plan.

The previous amendment freezing the plan and submission of Plan Amendment

Certification to Fidelity is all in order. ( I used the form from FIdelity Administrator kit ).

I am current with GUST and EGTRRA compliance, after conversation with Fidelity.

I just have to terminate the plan, cash it out, and then fill out the 5500. in that order.

I will get a tax attorney for 5500 so I don't do something silly. There is an item on the 5500-EZ asking

minimum required contribution which I assume is zero since the plan was frozen years ago.

I sincerely appreciate your interest in this concern. Thank You Mark