Does ROBS C-Corp have to file an annual 1120 tax return?
Our firm recently acquired two new clients who have utilized ROBS from their 401K plans.
We are clear on 5500 filing, but can’t find any information if separate yearly 1120C is required?
Would you happen to have any guidance on that?
Congratulations on your new acquisitions! There’s no ROBS specific requirement that you must file a form 1120C just for having a ROBS. However, that doesn’t mean that you the clients don’t need to fill them out. That requirement really depends on the organization itself, but it doesn’t have anything to do with the actual ROBS transaction. You should verify everything you need to file with a ROBS professional directly. If the businesses have a ROBS provider then you can talk through these forms and processes with them.