Jakyasar Posted January 28, 2021 Posted January 28, 2021 Sorry if this was asked before: I own an S-Corp and own 100%. My adult son is my employee and participant. 2020 5500-EZ instructions for who can file EZ: 2. Covers only one or more partners (or partners and their spouses) in a business partnership (treating 2% shareholder of an S corporation, as defined in IRC 1372(b), as a partner) 1372(b)2: (b)2-percent shareholder defined For purposes of this section, the term “2-percent shareholder” means any person who owns (or is considered as owning within the meaning of section 318) on any day during the taxable year of the S corporation more than 2 percent of the outstanding stock of such corporation or stock possessing more than 2 percent of the total combined voting power of all stock of such corporation. So, now I can file an EZ where my son owns my stock by attribution? Thank you for your comments
RatherBeGolfing Posted January 28, 2021 Posted January 28, 2021 Yes. Starting with 2020 Form, 2% shareholder treated as partner for annual filing purposes. See prior thread for more detail
SSRRS Posted February 17, 2022 Posted February 17, 2022 Hi, The above was an S CORP. How about a sole proprietor that has a plan and the only participants in the plan are the owner and his son. Should this be an EZ based on the new regs? Thank you very much.
SSRRS Posted February 18, 2022 Posted February 18, 2022 6 hours ago, Jakyasar said: Exception is for s corp Thanks Jakyasar.
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