Plan sponsor

Employer or business entity that establishes and maintains the retirement plan.

Definition

The plan sponsor is the legal entity (sole proprietorship, LLC, partnership, S-corporation, or C-corporation) that adopted the Solo 401(k) plan document and is responsible for filing Form 5500-EZ each year the filing is required. The sponsor's EIN appears on Form 5500-EZ line 2b.

Related terms

Plan administratorPerson or entity designated under the plan document to manage day-to-day operations and required filings.Form 5500-EZIRS annual return for one-participant retirement plans (owner-only Solo 401(k), partner-spouse plan, or foreign plan).