Brenda Wren Posted September 25, 2024 Posted September 25, 2024 I have a small dental practice plan. Sole owner is married with a minor child to spouse who has a sole-proprietorship business earning about $100k annually with no employees. Both spouses participate in the plan, make employee deferrals and receive a SH match. With the change in the rules for 2024, since the spouses no longer have to aggregate for testing purposes, I guess I now have a multiple-employer plan going forward. Sole-proprietorship will be desirous of funding a PSP contribution on top of the match. Other than changing the employer type on the 2024 Form 5500 and adding the MEP addendum, is there anything else required on the government reporting side or the plan document side?
CuseFan Posted September 25, 2024 Posted September 25, 2024 Don't think so, but also remember that neither spouse can be involved in the other's business for a control group to no longer exist. Sometimes, sponsors and/or their practitioners want there to be a CG and so create some cross-involvement to get there. AlbanyConsultant, Bill Presson and Belgarath 3 Kenneth M. Prell, CEBS, ERPA Vice President, BPAS Actuarial & Pension Services kprell@bpas.com
Brenda Wren Posted September 25, 2024 Author Posted September 25, 2024 Thanks for the input, CuseFan.....no concern with that issue at all in this case.
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