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GWarren For Business & Nonprofits
GWarren For Business & Nonprofits, Attorney
Category: Business Law
Satisfied Customers: 355
Experience:  30 yrs Counsel, AVP Corp Governance Fortune 100 finance/ins, Nonprofit Bds, law firm. OH NJ license
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The Corp is based in Las Vegas. I am getting ready to retire

Resolved Question:

The Corp is based in Las Vegas. I am getting ready to retire and I will have no use for the Corp. plus there is a small pension with it to close out.
Submitted: 7 years ago.
Category: Business Law
Expert:  P. Simmons replied 7 years ago.
can you provide a bit more info on this? What is going on? Are you attempting to close out a corporation?

Customer: replied 7 years ago.

My intention is to close this Corporation out. It is P&LStrategies Inc, incorporated in Naveda 3-10-1999, business activity code 111100. The corporation has no assets or cash. EIN 88-0424045

There is a pension plan formed at the same time that I want to close, the pension has approx. $30,000, and has no additions or withdrawals.

What forms need to be filed with the IRS

Expert:  P. Simmons replied 7 years ago.
Thanks for the chance to assist

I am going to forward this on to a colleague who may be able to assist

Hang on please

Expert:  GWarren For Business & Nonprofits replied 7 years ago.
Thank you for contacting justanswer.

As you close your business you will need to file a final employee pension/benefit plan prior to distribution. It is Form 5500, Annual Return/Report of Employee Benefit Plan. A copy of the 2008 form in pdf is provided below and you may contact the IRS for a current version:

http://www.irs.gov/pub/irs-pdf/f5500.pdf

Following is detail on closing a business with the IRS:

http://www.irs.gov/businesses/small/article/0,,id=98703,00.html

I trust this Form 5500 is responsive to your question. If you would like further clarification, please let me know.
GWarren For Business & Nonprofits, Attorney
Category: Business Law
Satisfied Customers: 355
Experience: 30 yrs Counsel, AVP Corp Governance Fortune 100 finance/ins, Nonprofit Bds, law firm. OH NJ license
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