An individual P owns 100% of Company A and 30% of Company B. There are no other connections between A & B and do not have any other common employees/owners.

Both A & B want to establish DB plans. P, naturally, wants to participate in both plans.

Questions:

1. Any problem with this?

2. Will the S415 limit apply to P's total benefits from the two plans or apply separately to the benefits under each plan (i.e. P can potentially receive "two" S415 max benefits)?

3. If there is no problem with the above and "two" S415 limits can be had, at what ownership % level will this be a problem.

415 is a per plan limit. There is no prohibition in participating and earning separate pension beneftis in more than 1 plan, so long as the sponsors are not related.

Not related in this context means not only not related by being a controlled group, but also an affiliated service group or a management function group. The percentage you are looking for is 80%. Unless a parent-subsidieary situation exists whereupon 80% is reduced to 50%.