Ownership and officer information is an important part of identifying Highly Compensated Employees (HCEs).
An owner is anyone who owned or owns at least 1% of the company in the plan year for which you are completing the Compliance Hub, or for the prior plan year.
You will also need to provide information on who is related to owners as ownership may be attributed to specific family members, namely spouses, parents, children, and grandchildren. We will determine if ownership is attributed with the information provided.
Owner and officer information can change from year to year. To make sure we have the most up-to-date information, we request this information annually.
To learn more about owners, HCEs, and other key terms, check out this resource.