Stash026 Posted September 29, 2020 Posted September 29, 2020 Is it still accurate that if a Plan has less than $250,000 in assets they don't have to file a Form 5500? I know I've heard it before, but I don't see it in the instructions for the forms. Thanks in advance!
Bill Presson Posted September 29, 2020 Posted September 29, 2020 It's only for an owner only plan. https://www.irs.gov/retirement-plans/financial-advisors-are-assets-in-your-clients-one-participant-plans-more-than-250000 https://www.irs.gov/instructions/i5500ez William C. Presson, ERPA, QPA, QKA bill.presson@gmail.com C 205.994.4070
Stash026 Posted September 29, 2020 Author Posted September 29, 2020 But that only applies to an EZ, right? If it's a plan filing a standard Form 5500 or a Form 5500-SF, they need to be filed regardless of the asset amount?
Bill Presson Posted September 29, 2020 Posted September 29, 2020 28 minutes ago, Stash026 said: But that only applies to an EZ, right? If it's a plan filing a standard Form 5500 or a Form 5500-SF, they need to be filed regardless of the asset amount? Correct. William C. Presson, ERPA, QPA, QKA bill.presson@gmail.com C 205.994.4070
thepensionmaven Posted September 30, 2020 Posted September 30, 2020 An accountant recently mentioned to me that husband and wife, even if husband owns 100?%, attribution would apply.
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