BG5150 Posted October 8, 2024 Posted October 8, 2024 Plan name is different than employer name. But we filed the 5558 with the ERs name as both the ER and plan names. For example: Employer: Connecticut Fencing Company Plan name: Fences 'R' Us 401(k) Plan 5558 filed with plan name: Connecticut Fencing Company 401(k) Plan EIN and PN are correct. Will we have a problem? Software is giving me a warning. QKA, QPA, CPC, ERPATwo wrongs don't make a right, but three rights make a left.
david rigby Posted October 8, 2024 Posted October 8, 2024 1. File an amended form? 2. On next year's filing, use Line 4 to "change" the plan name? I'm a retirement actuary. Nothing about my comments is intended or should be construed as investment, tax, legal or accounting advice. Occasionally, but not all the time, it might be reasonable to interpret my comments as actuarial or consulting advice.
ColdBru Posted October 8, 2024 Posted October 8, 2024 1 hour ago, david rigby said: 1. File an amended form? 2. On next year's filing, use Line 4 to "change" the plan name? I'm in a similar boat but haven't filed the 5500 yet. Is the plan name really important for the filing? I'm planning on doing #2 next year anyways as I'm switching providers and want to switch my plan name.
ESOP Guy Posted October 8, 2024 Posted October 8, 2024 My guess is if you get a letter you can explain it in a letter. I know I have explained the wrong EIN once years ago that way and the IRS was fine. FishOn 1
Popular Post Bill Presson Posted October 8, 2024 Popular Post Posted October 8, 2024 Wrong on 5500 or 5558? Either way, I think you’re okay as long as the EIN and PN are correct. RatherBeGolfing, ColdBru, FishOn and 3 others 6 William C. Presson, ERPA, QPA, QKA bill.presson@gmail.com C 205.994.4070
BG5150 Posted October 11, 2024 Author Posted October 11, 2024 Wrong on the 5558. Bill Presson 1 QKA, QPA, CPC, ERPATwo wrongs don't make a right, but three rights make a left.
BG5150 Posted October 11, 2024 Author Posted October 11, 2024 Sorry, just realized the OP was way misleading. Edited. This all has to do with, and only with, the 5558. No 5500 or 8955.... Bill Presson 1 QKA, QPA, CPC, ERPATwo wrongs don't make a right, but three rights make a left.
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