5500-SF & Sch MEP for 2024

[doombuggy]

So I have a plan that is sponsored by the husband's LLC and the wife's LLC is a participating ER.  With SECURE2.0, they would now have to file a Form 5500-SF instead of an EZ.  They share a pooled account and neither have employees.  I am trying to figure out who to answer questions on the Sch MEP and I think the issue may stem from Part 1 - type of Multiple-Employer Plan.  I checked 1c Pooled Employer plan but now I am thinking I should choose 1d Other and come up with a discription - maybe owner only plan that spouse's LLC adopted?

In Part II 2e I checked "yes" because the 2 owners are individual working owners.  There are no participants besides them, so 2f is 0% and 2g is $0, since all assets in 2d belong to the owners.

Any thoughts here?

[C. B. Zeller]

The SECURE 2 rule only breaks controlled groups between spouses where the controlled group exists solely because of a minor child, or community property laws. The spousal noninvolvement test remains otherwise unaffected. So if they want to continue to have a controlled group (it sounds like they might) then all they have to do is find a way to break the spousal noninvolvement rule; for example, they could participate in the management of each other's businesses, or they could give each other options to buy stock in each other's company.

[doombuggy]

Thanks, they share a minor child.

My main issue right now is how to file this Form 5500-SF and answer the questions on the Schedule MEP.