Ownership
The ownership structure of a business that sponsors a retirement plan (and other related businesses) can have a significant impact on the compliance testing and reporting for a plan. That’s why the Blue Ridge Year-End Questionnaire asks for detailed ownership information each year.
Why Ownership Matters
Business ownership identifies highly compensated employees and key employees, which are classifications used in nondiscrimination, coverage, and top-heavy testing. Ownership also helps determine whether two or more businesses are part of a controlled or affiliated service group — meaning they may need to be treated as a single employer for retirement plan purposes.
Information Requested
To support accurate testing and reporting, Blue Ridge requests the following ownership details annually:
- List of all owners, including ownership percentages
- List of employees related to those owners
- Information about other entities owned by the owners or the business that sponsors the plan.
- Details about relationships between businesses under common ownership or control
