Basically Posted January 20, 2022 Posted January 20, 2022 I looked, couldn't find the answer. For a business to be eligible to file an EZ can the business have employees but none of them are eligible due to the hour requirement? Case in point, summer camp where counselors all work less than 1,000 hours. Only husband and wife owners work 1,000+ so only husband and wife are participants. Thanks
BG5150 Posted January 21, 2022 Posted January 21, 2022 17 hours ago, Basically said: For a business to be eligible to file an EZ can the business have employees but none of them are eligible due to the hour requirement? Case in point, summer camp where counselors all work less than 1,000 hours. Only husband and wife owners work 1,000+ so only husband and wife are participants. For now. The long time/part time employee rules are fast-a-comin'... jsample and David Schultz 2 QKA, QPA, CPC, ERPATwo wrongs don't make a right, but three rights make a left.
Peter Gulia Posted January 21, 2022 Posted January 21, 2022 BG5150 reminds us of an important point many plans face about some part-time employees. Basically’s originating post doesn’t mention whether the plan includes or omits a § 401(k) arrangement. Section 401(k)(2)(D)’s condition about some part-time employees applies only if the plan has an arrangement the plan’s sponsor intends as a § 401(k) arrangement. A plan with only nonelective contributions might exclude employees with fewer than 1,000 hours of service. David Schultz 1 Peter Gulia PC Fiduciary Guidance Counsel Philadelphia, Pennsylvania 215-732-1552 Peter@FiduciaryGuidanceCounsel.com
Recommended Posts
Create an account or sign in to comment
You need to be a member in order to leave a comment
Create an account
Sign up for a new account in our community. It's easy!
Register a new accountSign in
Already have an account? Sign in here.
Sign In Now