Discussion:What is considered part of company retirement plan

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Discussion Forum Index --> Basic Tax Questions --> What is considered part of company retirement plan
Discussion Forum Index --> Tax Questions --> What is considered part of company retirement plan

Bobw12 (talk|edits) said:

2 April 2008

I have a client who is part of his company's profit sharing plan, however the company does not mark the retirement plan box on the W-2 form. My client believes himself to be in the company retirement plan (there is no seperate 401k, this is a private sector company) but is curious if he can make a traditional IRA contribution. Is it the responsibility of the employee to determine himself if he is in the company retirement plan or can he rely on the retirement plan box of the W-2 as being definitive?

JDACPA (talk\|edits) said:	2 April 2008
I believe he needs to find out, regardless of the box checked no te W-2. I see many W-2's where taxpayer belongs to a plan, yet the w-2 preparer forgets to check the box. As long as the company has not put any new money into the retirement account for year in question, nor has he put any money in for the year, I believe he can fund the IRA as not belonging to a pension plan.

Bobw12 (talk\|edits) said:	9 April 2008
Great, so we can assume that the checking or not checking of the retirement plan box is not the key factor in determing participation in the plan?