-
Form 5500 EZ required for Plan Totals or Contribution Totals?
-
Top ForumsSolo 401k Contributions, Solo 401k – 5500-EZ My understanding is that one of the reasons a Form 5500 EZ is required if the plan has assets over 250,000 at the end of the year. Does the 250,000 include lifetime contributions or only the assets currently held in the solo 401k plan? For example if you are converting through a Mega Back Door Roth every year into a Roth IRA, and your solo 401k plan never grows to 250,000 because its assets are being converted into the Roth IRA, but the amount you contributed over several years does reach 250,000, would that trigger a requirement to file this form?
Thanks!
-
Top ForumsSolo 401k, Solo 401k Contributions
The Form 5500-EZ is required once the total value of the plan assets exceeds $250,000 as of December 31st.
Liftime contributions are not considered in making this determination.
We handle the Form 5500-EZ for our clients as part of our service (including the ability to file such Form 5500-EZ electronically).
See more: https://www.mysolo401k.net/solo-401k/common-solo-401k-form-5500-ez-faqs/
-
