401(k) Portion of PSP Plan Need Own Tax ID No.?

[chris]

Profit sharing plan recently amended to add 401(k) provisions. Does employer have to get a tax id no. for the 401(k) portion or can it still be reported under the psp's tax id no.?

[Jon Chambers]

PSP's id is ok.

[Guest Powers]

I agree with Jon. You could get an additional ID., but it may lead to confusion later on (1099's, 945's etc.)

[RCK]

I don't think that there is a choice: there is one plan, so there should be one EIN and one Plan number. In order to have separate plan numbers, you'd need separate plans.

[actuarysmith]

Assuming that you amended the existing plan to add 401(k), and did not add a second plan - applying for a seperate TIN is not necessary. You have one plan and one trust.

I have no idea why anyone would ever suggest getting another id, it would be under the same name as the plan that already has the id.