TERMINATE DEFINED BENEFIT PLAN SINGLE EMPLOYEE


I

Irina

This is my situation, please help!

My client is a 100% owner of a corporation. The corporation
has a defined benefit plan for him for 3 years, but this has
been a really bad year. He wants to terminate the defined
benefit plan possibly roll it over directly to a traditional
IRA.

I like to know if this will be a red flag for the IRS, can
he terminate after 3 years, what happens in the future if
the corporation wants to open another defined benefit plan.
I am also not sure if this is a qualified plan, since he is
the only employee.

I will appreciate any input on the matter!

Thanks!

Irina
 
Last edited by a moderator:
Ad

Advertisements

You must log in or register to reply here.

Ask a Question

Want to reply to this thread or ask your own question?

You'll need to choose a username for the site, which only take a couple of moments. After that, you can post your question and our members will help you out.

Ask a Question

Similar Threads

TERMINATE DEFINED BENEFIT PLAN SINGLE EMPLOYEE 0
Defined Benefit Plan 5
Corp defined benefit and defined contribution plans 1
defined benefit plans and FICA 1
fess for defined benefit plan 5
USA Defined Benefit Plans for Self Employed Individual 0
Please explain the ff definitions on Defined benefit plan? 0
Need Low-Cost Defined Benefit Plan or other deduction 3

Top