Contributions in Multiple Plans

Here's my situation:

• Company 1 - Husband & Wife owns 100%
• Company 2 - Husband owns 50%, Another Individual owns 50%

So we don't have a controlled group.  The Husband maxed out his 401(k) in Company 2 and they pass all testing, but can he get Profit Sharing from both plans and what would the maximum be for each?   

Thanks in advance!  

3 hours ago, Stash026 said:

Here's my situation:

• Company 1 - Husband & Wife owns 100%
• Company 2 - Husband owns 50%, Another Individual owns 50%

So we don't have a controlled group.  The Husband maxed out his 401(k) in Company 2 and they pass all testing, but can he get Profit Sharing from both plans and what would the maximum be for each?   

Thanks in advance!  

Each plan would calculate the maximum as if the other plan did not exist.

Just be careful of 415(h) should Husband''s ownership increase to "more than 50%" in company 2. Because then even though you don't have a controlled group, he would have one 415(b) and 415(c) limit for Company 1 & 2 combined.