Plan Compliance Analyst (administrator) RPA
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Pension Rights Center
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Howard Simon & Associates
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Defined Contribution Plan Administrator Pension Investors Corp of Orlando Inc
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Advanced Plan Designs, LLC
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Southern Pension Services
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Carpenter Morse Group
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Definiti
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Retirement Plan Relationship Manager Prosperity Advisors, LLC
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Manager/Supervisor of Benefits and Payroll Compensation Virginia Farm Bureau
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Quantech Pensions LLC
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Small NY Actuarial TPA Firm
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Southern Pension Services
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Question 275: In Q&A 236, you stated that the attribution rules do not require that a single share of stock be treated as 2 shares. Under IRC 1563, if I have a husband and wife who each own 5% of a corporation, can I assume that neither owns more than 5%, or must I assume that one owns more than 5%? Are the rules the same under IRC 318? (Must I assume that at least one is a key and an HCE, and can I choose which one?) |
Answer: Let me clarify things. |
Answers are provided as general guidance on the subjects covered in the question and are not provided as legal advice to the questioner or to readers. Any legal issues should be reviewed by your legal counsel to apply the law to the particular facts of this and similar situations.
The law in this area changes frequently. Answers are believed to be correct as of the posting dates shown. The completeness or accuracy of a particular answer may be affected by changes in the law (statutes, regulations, rulings, court decisions, etc.) that occur after the date on which a particular Q&A is posted.
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