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Question 81: My client is four corporations owned by a father or his son (or both). The son is at least age 21.
I think I have 2 controlled groups: one comprised of the 2 companies owned by the son, and one comprised of 3 companies. If each of the groups adopts a 401(k) plan, does one company get tested in both groups? I am suggesting giving father an option to tie the four corporations together. |
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Answer: I see the breakdown a little bit differently, but you're on the right track. |
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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