401K EIN Plan vs LLC
Hi. A client has her own business (LLC) with a EIN that she files taxes with. She wants to open a Individual 401K plan; does she need a separate 401K Plan EIN to open an account with or can she use the LLC tax ID?
Hi. A client has her own business (LLC) with a EIN that she files taxes with. She wants to open a Individual 401K plan; does she need a separate 401K Plan EIN to open an account with or can she use the LLC tax ID?
Permalink Submitted by Alan - IRA critic on Tue, 2020-10-20 16:36
The LLC EIN should be used. Once a 5500 EZ is required, she will also need to assign a Plan # for the 5500 filing, to be used in addition to the EIN.