For profit company A is wholly owned by for profit company B.
Pauly Putz was president of "A" and signed the DB plan 5500 for years both as plan administrator and plan sponsor. The Putz departed suddently and "A" is being run by Ima Ferener who while she resides in location "A," is on company "B's" payroll. Ima is not an officer of company "A" though her title is VP under company "B." Can Ima validly sign the 5500? Is it true there is no issue if Ima is an officer of company "A?"
Can anyone point to IRS/DOL guidance of who may or may not validly sign the 5500?
Full Version: Who May Sign 5500?
The instructions say "The plan administrator must sign...", and "the employer must sign...".
No doubt, DOL regs provide more description of the former, perhaps about the latter.
Does Ima's boss care if Ima signs the form? (I suspect your fact set is pretty common.)
No doubt, DOL regs provide more description of the former, perhaps about the latter.
Does Ima's boss care if Ima signs the form? (I suspect your fact set is pretty common.)
Nice one, Andy,
Is Ima an officer of A?
Who is actually paying the employees of A? I don't care whose name is on the building--which EIN is on their W-2?
Without more facts, I'd say that Ima CAN sign as the administrator.
Is Ima an officer of A?
Who is actually paying the employees of A? I don't care whose name is on the building--which EIN is on their W-2?
Without more facts, I'd say that Ima CAN sign as the administrator.
QUOTE (RCK @ Feb 25 2009, 04:55 PM) 
Nice one, Andy,
Is Ima an officer of A?
Who is actually paying the employees of A? I don't care whose name is on the building--which EIN is on their W-2?
Without more facts, I'd say that Ima CAN sign as the administrator.
Is Ima an officer of A?
Who is actually paying the employees of A? I don't care whose name is on the building--which EIN is on their W-2?
Without more facts, I'd say that Ima CAN sign as the administrator.
Ima is not an officer of Company A. Company A's EIN is on the W2 for Company A employees. Company B's EIN is on Ima's W2.
At issue is whether Ima has the authority to sign the form. In the circumstance you describe, the authority has been delegated to her and she can sign. Would "A" be able to claim, if the IRS audited and it turned out that the information provided was wanting, that Ima was not authorized to by the Plan Administrator to sign the form? If so, she can't sign. But I doubt such a claim would be valid.
hello andy yes nice one but really i do not know about this but any one give me full detail so many thanks coz i m new memmber for this site so andy can you reply ?
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mark Jones
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hipaa--hipaa
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mark Jones
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hipaa--hipaa
QUOTE (rockymeet @ Mar 8 2009, 05:03 PM)
hello andy yes nice one but really i do not know about this but any one give me full detail so many thanks coz i m new memmber for this site so andy can you reply ?
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mark Jones
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hipaa--hipaa
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mark Jones
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hipaa--hipaa
Mark, I'm sure of what your question is. The post is essentially who can sign as plan sponsor on the 5500. Must such person have officer responsibility of the the corporation? Or can it simply be a Board member? These were the sorts of questions being asked.
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