Santo Gold Posted September 13, 2023 Posted September 13, 2023 Wife and husband own 100% each of 2 different businesses, unrelated to each other. The one has about 10 employees and has a 401k plan. The other is spouse only and started a solo 401k for herself, well under $250K. Neither performs any work for the other's business. I do not see in the instructions that this would cause the solo plan to file a 5500EZ. Would you agree? Thank you
Bri Posted September 13, 2023 Posted September 13, 2023 Depends on if they've got a minor child inducing a controlled group despite the non-involvement.....that law goes away soon but not for 2022. Luke Bailey, RatherBeGolfing and Bill Presson 3
RatherBeGolfing Posted September 13, 2023 Posted September 13, 2023 2 hours ago, Bri said: ...that law goes away soon but not for 2022. And not for 2023 Luke Bailey and Bri 2
Peter Gulia Posted September 14, 2023 Posted September 14, 2023 Consider also whether the spouses were married in, ever lived in, or otherwise invoked the law of a community-property nation or State. Luke Bailey 1 Peter Gulia PC Fiduciary Guidance Counsel Philadelphia, Pennsylvania 215-732-1552 Peter@FiduciaryGuidanceCounsel.com
RatherBeGolfing Posted September 14, 2023 Posted September 14, 2023 21 minutes ago, Peter Gulia said: Consider also whether the spouses were married in, ever lived in, or otherwise invoked the law of a community-property nation or State. Which also goes away starting with the first plan year after 12/31/2023 Peter Gulia and Luke Bailey 1 1
Santo Gold Posted September 14, 2023 Author Posted September 14, 2023 Great replies. Thank you very much
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