metsfan026 Posted June 16, 2022 Posted June 16, 2022 Good afternoon! Have a potential client that's looking to setup both a DC and DB Plan. No issue in that, but where they are looking to invest the money is asking for separate EIN # for each Plan. Is that normal? Just curious, as it's not something I've previously encountered. Thanks, and sorry for all the questions lately!
C. B. Zeller Posted June 16, 2022 Posted June 16, 2022 Yes, this is normal. The number that they need is the EIN of the trust, not the EIN of the employer. Luke Bailey, Bri, Bird and 1 other 4 Free advice is worth what you paid for it. Do not rely on the information provided in this post for any purpose, including (but not limited to): tax planning, compliance with ERISA or the IRC, investing or other forms of fortune-telling, bird identification, relationship advice, or spiritual guidance. Corey B. Zeller, MSEA, CPC, QPA, QKA Preferred Pension Planning Corp.corey@pppc.co
chc93 Posted June 16, 2022 Posted June 16, 2022 1 hour ago, C. B. Zeller said: Yes, this is normal. The number that they need is the EIN of the trust, not the EIN of the employer. Yes... if each plan's trust will be separate from each other, each plan's trust will need its own Trust EIN. Luke Bailey 1
Cobras59 Posted June 28, 2022 Posted June 28, 2022 Some plans have not obtained EIN's for the Trust. If they need Plan EIN's, then would need to apply for one. A lot of vendors haven't always used them.
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