Accounting, Payroll & Pension Issues/Dissolving a Profit Sharing Trust

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Expert: - 5/13/2009


Question
I have a corporation and a profit share trust that I want to dissolve.  No 5500's have ever been filed.  The corp has only two employees, my husband and me.

What is the easiest way to dissolve?  We only want to roll the money into IRA's

Answer
In order to give you a complete answer, I need more information:
1 Are you using a prototype furnished by a financial institution? If not who rprovided the document?
2. Is anyone helping you with the administration of the plan?
3. Have you established two accounts or is everything commingled in a single account for both of you?
4 Approximately how much money is in the plan?

Accounting, Payroll & Pension Issues

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Allen

Expertise

Pension questions ONLY. Pension, profit sharing, and 401(k) plan design, installation, administration and actuarial services; rollovers to Individual Retirement Accounts; taxation of retirement plan distributions

Experience

Over 35years experience in the pension field

Organizations
Various actuarial organizations

Education/Credentials
MBA and various professional certifications

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