Retirement Taxes question


L

lindagoldstein100

Retirement Taxes question

Please help.

Can a person have a QRP/Keogh (Profit Sharing) plan at 2 or more
institutions like Schwab, Fidelity, Vanguard etc ?

Facts:
My sister lives in California.

She and her husband run their tiny business thru an LLC.
Actually for Federal taxes, they file a 1065 Partnership
return. But for CA State taxes they file a LLC return.

Each of them has their own QRP/ Keogh plan.

She has a QRP/Keogh plan via Schwab. It is Schwab's Keogh
plan she has adopted.

But Schwab does not have all the mutual funds she wants to
invest in.

So she is wondering if she can have a QRP/Keogh plan at 2 or
more institutions like Schwab, Fidelity, Vanguard etc ?

To Schwab ...she sends a (Profit sharing) check and takes
all decisions to invest in mutual funds.

She decides on the amount of the check she sends Schwab. She
is the administrator.

In return Scwab sends statements every month.
My sister files a IRS form 5500 every year.

Is there a website that gives more info on this in short and
simple english ? Pls let me know what the rules are regard

She would like to be able to invest in Fidelity and Vanguard
funds too if possible by opening Keogh accounts at these
institutions.

Pls let me know what the rules are regarding the above.

Thanks in advance for your help...

Linda
 
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