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Thread: close Keough after halting contribs

  1. #1
    Junior Member
    Join Date
    Apr 2012
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    close Keough after halting contribs

    I have a 10 years old corp just one employee ( me ), .
    First two years the corp contributed to Money Purchase Keough ( required ).
    I stopped contribs, did not terminate Keough, just left the funds in place. I just wrote a letter stating
    corp will no longer make contribs.
    Am closing company, have to complete Form 5500 which asks how many participants
    and minimum required contribs made in this year. Not sure how to anser this ! I never filed 5500 before because
    account is under 250K. Do I put 0 participants ??? Thank You, Mark

  2. #2
    Senior Member Mark T's Avatar
    Join Date
    Dec 2011
    Caloocan City Philippines
    BAF Cash
    Thanked 295 Times in 257 Posts
    What specifically is the problem first why have you decided to stop making contrib to it? Are there any arguments? Perhaps a good agreement through meeting shall improve your discussion on it well.

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