John Feldt ERPA CPC QPA Posted November 30, 2018 Posted November 30, 2018 Husband/wife own 96% of the company and are eligible for the plan. No other employees. Their adult kids own the other 4%, but the kids are not employees, not eligible for the plan. Eligible for EZ, or must they file SF?
Mike Preston Posted December 1, 2018 Posted December 1, 2018 Not eligible for EZ. Normally, would file SF. But remember, if plan has non-qualifying assets and would otherwise file SF, have to file long form 5500.
ERISAAPPLE Posted December 1, 2018 Posted December 1, 2018 Agreed. The instructions to the Form 5500 EZ says an incorporated sponsor must be owned entirely by the participant or the participant and spouse for the plan to be a one-participant plan.
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