Is a SAR SEP asset that transfers at sale of company?
I have a client that acquired the assets of a corporation and one of those was a SAR-SEP that has been in place since 1994.
The new owner wants to continue to fund the SAR-SEP.
I am trying to figure out if there is any reason he cannot continue the same plan? Anyone have any thoughts?
Thank you very much!
Permalink Submitted by Dennis D. Duffy on Wed, 2010-11-03 17:50
The new corporation has a different tax id number than the old, as the sale was an asset sale of the company assets.