I had a money purchase Keogh account of just one participant-- set up some 25 years ago. What do you do about making a minimum required contribution to money purchase Keogh if you have no business income
over a period of years? You can't take a % of 0. I have been suffering from serious cancer for a number of years and have been unable to generate business since then so have not made contributions.
I put a" freeze letter" in my file some years ago but don't know whether it is valid and the legal/tax
implications of that. How long does the freeze last if valid? Must it be done annually? Or is it permanent? (Did not send notification to IRS
) Necessary? Consulted w/Fidelity, accountants. Clueless. Different answers. Also called IRS helpline and they were not helpful.
Moved money purchase over to my traditional IRA
end of 2015 and now have to fill out 5500EZ (due 10/17) where they ask about minimum contributions made last yr. I put "0" (12b, c, d) which I fear will open up a can of worms since the contribution is required. No place on form
to say "no income" or "frozen".
Should I attach letter explaining?"