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Hello, looking for some guidance on who can sign 401(k) plan documents, specifically in this case the initial adoption agreement & the initial consent/resolution.  This is a new (and first) 401(k) plan for the business.  My wife and I own/operate an S Corporation, but due to the rules and regulations of medical corporations in California, I am not allowed to be an officer or shareholder of the S Corp.  She is technically the sole shareholder and the sole officer of the corporation.  Our 401(k) TPA told me that a simple board of directors resolution giving me signing authority is sufficient, but I can't seem to find any legal info to back that up.  I'm thinking of just having her sign documents for sake of simplicity (even though I will doing all the day to day work).  Any advice or information is much appreciated.  Thanks...

Posted
6 minutes ago, Zach Hertz said:

Hello, looking for some guidance on who can sign 401(k) plan documents, specifically in this case the initial adoption agreement & the initial consent/resolution.  This is a new (and first) 401(k) plan for the business.  My wife and I own/operate an S Corporation, but due to the rules and regulations of medical corporations in California, I am not allowed to be an officer or shareholder of the S Corp.  She is technically the sole shareholder and the sole officer of the corporation.  Our 401(k) TPA told me that a simple board of directors resolution giving me signing authority is sufficient, but I can't seem to find any legal info to back that up.  I'm thinking of just having her sign documents for sake of simplicity (even though I will doing all the day to day work).  Any advice or information is much appreciated.  Thanks...

Have her sign it; why not?  Yes, theoretically the authority to sign documents can be given to other people, but why bother.  If this was my client, she would be the one who signs.

Lawrence C. Starr, FLMI, CLU, CEBS, CPC, ChFC, EA, ATA, QPFC
President
Qualified Plan Consultants, Inc.
46 Daggett Drive
West Springfield, MA 01089
413-736-2066
larrystarr@qpc-inc.com

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