close Keough after halting contribs

Discussion in 'Business Advice, Questions & Discussion' started by BAFisotope13, Apr 27, 2012.

  1. BAFisotope13

    BAFisotope13 New Member

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    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 ??? :confused: Thank You, Mark
     
  2. Mark T

    Mark T Active Member

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    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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