Discussion:Pension Plan Options
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(Difference between revisions)
| Revision as of 18:57, 3 November 2009 Kevinh5 (Talk | contribs) (I was assuming h) ← Previous diff |
Revision as of 19:32, 3 November 2009 RoyDaleOne (Talk | contribs) (Well, relavtive) Next diff → |
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| {{ForumReplyPost|UserID=Kevinh5|Date=3 November 2009|Text=I was assuming he was asking as the preparer of the 5500. }} | {{ForumReplyPost|UserID=Kevinh5|Date=3 November 2009|Text=I was assuming he was asking as the preparer of the 5500. }} | ||
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| + | {{ForumReplyPost|UserID=RoyDaleOne|Date=3 November 2009|Text=Well, relavtive to the 5500, 1. if he was engaged as the preparer, he missed some deadlines, 2. if he was not engaged as the preparer, probably has no obligation, 3. if he has just been engaged he has some returns to prepare. | ||
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| + | Now, if the real question is, "How do I get out of this mess my new client dropped in my lap?"}} | ||
Revision as of 19:32, 3 November 2009
Discussion Forum Index --> Advanced Tax Questions --> Pension Plan Options
Discussion Forum Index --> Tax Questions --> Pension Plan Options
| 3 November 2009 | |
| Inactive C-corp was dissolved in 2008 and a final return was filed with IRS. Have now discovered that this C-corp has an old defined contribution profit sharing plan. What are my options? Would also appreciate any cite or reference. | |
| 3 November 2009 | |
| 'your' options meaning you are the former C corp shareholder? | |
RoyDaleOne (talk|edits) said: | 3 November 2009 |
| Kevin point the poster to my link to the IRS........ somewhere ...... | |
| 3 November 2009 | |
| Sorry, I meant what are the C-corp's options for the profit sharing plan? By my options, I meant as preparer what are my options. | |
| 3 November 2009 | |
| Roy - not sure if you mean this link? IRS retirement topics - termination | |
RoyDaleOne (talk|edits) said: | 3 November 2009 |
| http://www.taxalmanac.org/index.php/Discussion:The_Fix_Is_In:_Common_Plan_Mistakes
Thanks, Trillium you are always super helpful. | |
| 3 November 2009 | |
| Guessed wrong though, didn't I? The link you just posted links in turn to a page with a great article on Orphan Plans. DN, if you need the full text of the rev proc that latter article references, you can get it on TaxAlmanac: Rev. Proc. 2006-27. | |
| 3 November 2009 | |
| Note that R.P. 2008-50 supersedes R.P. 2006-27. | |
| 3 November 2009 | |
| I'm still waiting for someone to answer the question - what are the options of the return preparer? He is not the taxpayer. He is not the trustee. He is only a preparer of returns. What are HIS options? | |
Death&Taxes (talk|edits) said: | 3 November 2009 |
| Is not the pension plan a separate entity in itself; it was not a corporate asset. And the trustees of the plan were probably individuals, not the corporation. | |
| 3 November 2009 | |
| I was assuming he was asking as the preparer of the 5500. | |
RoyDaleOne (talk|edits) said: | 3 November 2009 |
| Well, relavtive to the 5500, 1. if he was engaged as the preparer, he missed some deadlines, 2. if he was not engaged as the preparer, probably has no obligation, 3. if he has just been engaged he has some returns to prepare.
Now, if the real question is, "How do I get out of this mess my new client dropped in my lap?" | |
