Welcome Guest. Register Now!  



Reply
 
LinkBack Thread Tools Search this Thread Display Modes
  #1 (permalink)  
Old 01-15-2017, 10:46 AM
Junior Member
 
Join Date: Jan 2017
Posts: 1
Question Disclosing ownership in other companies?

I have been working for a technology consulting company for 11 years. That company recently form a new corporation and I bought in for 10.5% equity (for the new corporation only). I also am the sole owner in my own LLC and have been for six years. The owners at the company I've been with for 11 years are now telling me that I have to disclose any ownership I have in any companies because there is a tax sheet or form that they need to file with the Department of Labor. They are asking the following questions for the form they need to file - In how many companies do you have ownership? Do they have employees? Do they sponsor retirement plans?

My question for this forum is, do I need to provide this information for all companies where I have ownership?



Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!Reddit! stumble!bookmark in google!Share on Facebook!
Reply With Quote
  #2 (permalink)  
Old 01-16-2017, 12:53 AM
Moderator
 
Join Date: Oct 2010
Posts: 5,258
Quote:
Originally Posted by samedens View Post
I have been working for a technology consulting company for 11 years. That company recently form a new corporation and I bought in for 10.5% equity (for the new corporation only). I also am the sole owner in my own LLC and have been for six years. The owners at the company I've been with for 11 years are now telling me that I have to disclose any ownership I have in any companies because there is a tax sheet or form that they need to file with the Department of Labor. They are asking the following questions for the form they need to file - In how many companies do you have ownership? Do they have employees? Do they sponsor retirement plans?

My question for this forum is, do I need to provide this information for all companies where I have ownership?
you need to contact the corp for help; in general, Administrators or sponsors of retirement plans are generally required by law to report certain information with the IRS, the Department of Labor, and the Pension Benefit Guarantee Corporation, and disclosure to affected parties depending on the plans? type, size, and circumstances This Reporting and Disclosure Guide for Employee Benefit Plans was prepared by the IRS as a quick reference tool for certain basic reporting and disclosure requirements for retirement plans under the Internal Revenue Code and provisions of Employee Retirement Income Security Act of 1974 (ERISA) administered by the IRS



Digg this Post!Add Post to del.icio.usBookmark Post in TechnoratiFurl this Post!Reddit! stumble!bookmark in google!Share on Facebook!
Reply With Quote
Ads
Reply


Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

vB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
At what point or what industry do holding companies and operating companies come into play? majik_420 Limited Liability Company 1 12-08-2016 04:47 AM
ife insurance stock companies bakerjohn795 Life Insurance 0 07-21-2012 07:09 AM
working for 2 companies, how do I file? rurouni Income 3 01-18-2011 01:36 PM
Payments to foreign companies fly_fuzz C-Corporation 0 02-24-2010 12:12 PM
Gah. Two companies. Two states. Karinagw Income 1 02-21-2009 09:55 PM

Follow us on Facebook Follow us on Twitter Google Buzz Rss Feeds

» Categories
 
Individual
 » Income
 » IRA/Sep
 » Medical
 
Corporations
 » Payroll
 
Forum for CPAs
 
Financial Planning
 
 
 

» Recent Tax Q&A
No Threads to Display.