How would you complete section 5 of Part II for a final return with a single participant? (all assets have been distributed) Would the answers for questions 5a1, 5a2, 5b1, 5b2 be 1,1,0,0 respectively? In particular, questions 5b1 and 5b2. All assets have been distributed and rolled over into an IRA, however the plan "technically" still exists, (and I am the sole owner and Administrator) but has $0 assets. Since the plan itself still exists, and I am the owner of the plan, am I still a participant? Should question 5b1 "Total number of participants at the end of the plan year" be 1 or 0? and should question 5b2 "Total number of active participants at the end of the plan year" be 1 or 0?
Thanks for all you do! I love your books. They have answered most of my questions, but I missed the following: If your self directed (solo) 401k, buys (or creates) another LLC, then hires employees, what do needs to be done? As the new employees become part of the control group, they can be eligible to participate. How does this effect the solo?
How would you complete section 5 of Part II for a final return with a single participant? (all assets have been distributed) Would the answers for questions 5a1, 5a2, 5b1, 5b2 be 1,1,0,0 respectively? In particular, questions 5b1 and 5b2. All assets have been distributed and rolled over into an IRA, however the plan "technically" still exists, (and I am the sole owner and Administrator) but has $0 assets. Since the plan itself still exists, and I am the owner of the plan, am I still a participant? Should question 5b1 "Total number of participants at the end of the plan year" be 1 or 0? and should question 5b2 "Total number of active participants at the end of the plan year" be 1 or 0?
How to download form 5500 from IRS website?
Thanks for all you do! I love your books. They have answered most of my questions, but I missed the following:
If your self directed (solo) 401k, buys (or creates) another LLC, then hires employees, what do needs to be done?
As the new employees become part of the control group, they can be eligible to participate. How does this effect the solo?