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Controlled Group Question
BenefitsLink Message Boards Link to more items from this source
Sept. 7, 2021

"I had a sole-prop some time back and had a self-employed 401k plan with Fidelity with EIN of sole-prop. Then I created a s-corp and just used the same plan - changed EIN to S-corp, Name to a generic name - MKK-Plan. All good, no issues. I was thinking of shutting down the sole-prop but never did.

Now, one of my clients (for whom I do most of my work) has changed their policy and want me to handle task based on sole-prop and NOT through my s-corp.

Since I own both entities - S-corp and sole-prop, I'm assuming this becomes a control group and I can make contributions and profit share based on sole-prop earnings to the MKK_Plan as well.

When making contributions, Fidelity asks for Employer Name and EIN and I assume, I'll still put in the S-corp name and EIN since that entity is Plan Sponsor, is that correct?

Where on 5500 do I indicate that this is a control group? 5500 instructions suggest that I'm still a Single-Employer plan, is that right?"

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