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Self-Employed Solo 401k Daily Question: Why does the Form 5500-EZ ask for the employer’s EIN instead of the Solo 401k Plan’s EIN?
It is important to remember that a Solo 401(k) plan is for a self-employed business.
As such, it is the business that’s really filing the Form 5500-EZ tax return and that is why why the EIN number of the self-employed business (as opposed to the EIN number of the plan) that is used when filing a Form 5500-EZ.
For self-employed business taxed as a sole proprietorship, an EIN number specifically for business may never have been obtained (e.g. perhaps the individual always used his/her social security number).
The 5500-EZ form instructions are clear that one cannot use his or her Social Security number. Thus, before filing the Form 5500-EZ, the self-employed person will have to first obtain an EIN number specifically for the business and then use that number for purposes of filing 5500-EZ.
