Loan-Out Company

[§#$%!]

Never heard this type of corporation.

How does this work when it comes to retirement plans (i.e., sponsorship, wages, etc.)? I'm taking over qualified retirement plans for a one-person plan.

From what I've read, the corporation is established and employs the person. The employee is then paid by the corporation. I'm assuming the corporation sponsors the plan.

Who owns the corporation?

Thanks

[SoCalActuary]

loan out corporations are often established by entertainers, where the performers contract with the media (film, tv, music) to provide the service, payable to the corporation. There are issues of coordinating benefit limits with the union plans sponsored by the guilds where the performer is a member. There are extensive discussions about these issues here at benefitslink.

Otherwise, they are simply corporate plans owned by the sole employee.

[K2retire]

Who owns the corporation?

Ask them!