Indiv 401k to IRA; Series 5500
A client retired and rolled his Indiv 401k into his IRA to do charitable distributions. The Indiv 401k was below the limit requiring a 5500.
Does a 5500 have to be filed regardless as a “final distribution” even though it’s rolled to his IRA?
Permalink Submitted by Alan - IRA critic on Thu, 2019-03-14 23:45
Yes, when a solo K is being terminated a final 5500 EZ must be filed regardless of the solo K balance. He has some time to do this, but it should be filed within a year from the date the business ceased.