Salary Deferral Change: Fill & Download for Free

Yes, if these are independent employers in the eyes of the IRS there could be a retirement plan associated with each of them, including a 401(k) at each.Contributions may be limited though. With a 401(k) you have employer and employee contributions. The employee's salary deferral is limited across all plans combined, so if maxed out already at big-corp there couldn't be any additional at the LLC (this is similar to changing jobs during the year - you can't defer salary pre-tax into job #2's 401k plan if you maxed it out already at job #1). But the employer part is per-employer so some pre-tax savings towards retirement may be possible, depending on the LLC's income.I am guessing "runs an LLC" means "set up a single-member LLC for some outside income" - rather than, I don't know, the guy runs Bechtel (a multi-national with tens of thousands of employees). If so, and if his big-corp 401(k) salary deferral contribution is maxed out, he might as well use a SEP for the LLC income. It would have the same contribution limit while being a bit easier to set up. There are some other options but those are the two most commonly used ones for solos. And if the LLC has employees there are much bigger questions to consider in plan selection.

That changes from year to year and the limit is set by the IRS. For 2019 the contribution limit for employees who participate in 401(k), 403(b), most 457 plans, and the federal government's Thrift Savings Plan was increased from $18,500 to $19,000. The limit on annual contributions to an IRA, which last increased in 2013, was increased from $5,500 to $6,000.The basic employee contribution limit for 2020 is $19,500, up from $19,000 in 2019 and $18,500 in 2018. The $19,500 limit includes all elective employee salary deferrals, as well as any after-tax contributions made to a designated Roth account within your 401(k) or a special Roth 401(k) plan

Below I posted a very long list with examples of what you may be asked for. BUT, lest you freak out, note that many of these will not be applicable to you, and your investors may ask you for a different list. Generally if you are an early stage company (with no skeletons in the closet, right?) then the due diligence process is not likely to derail anything. But as always, I'd recommend you work with your attorney on what they expect and what they recommend.Corporate Records and Charter DocumentsAll minutes of directors’ and stockholders’ meetings, and all written consents of directors and stockholders.Certificate of Incorporation, Certificates of Designation, Rights, etc., and Bylaws.Similar information for the Company and subsidiaries, if any.Business Plan and FinancialsCurrent business plan and any financial projections.Most recent financial statements.Intellectual PropertyA list of the Company’s trademarks, patents, copyrights and domain names (or any applications therefore) including documentation of filing or registration with the appropriate governmental entities.If any of the foregoing were assigned to the Company, please so state and provide documentation of the assignment and recordation with the appropriate governmental entities.Security Issuances and Agreements Concerning SecuritiesA list of the Company’s stockholders, including issuance dates and original issuance price.A list of the Company’s option holders, including grant dates and exercise prices.Copies of agreements relating to outstanding options, warrants, rights (including conversion or preemptive rights) or agreements for the purchase or acquisition of any of the Company’s securities, and agreements relating to the Company’s past stock issuances.Any documents evidencing registration rights for the Company’s securities, or evidencing any agreements among the Company’s shareholders or between the Company and its shareholders.A summary of the vesting schedules of any stock or options subject to vesting, including any vesting acceleration.Agreements relating to voting of securities and restrictive share transfers.Evidence of qualification or exemption under applicable federal (including Rule 701) and state blue sky laws for issuance or transfer of the Company’s securities.Material AgreementsAny agreements, understanding, instruments, contracts or proposed transactions to which the Company is a party or by which it is bound which involve obligations of, or payments to, the Company in excess of $10,000.Any personal property leases.Any agreements concerning the purchase, lease, or sublease of real property.Any documents evidencing indebtedness for money borrowed or any other liabilities incurred by the Company.Any documents evidencing any mortgages, liens, loans and encumbrances with respect to the Company’s property or assets.Any documents evidencing any loans or advances made by the Company.Any licenses or agreements of any kind with respect to the Company’s or others’ patent, copyright, trade secret or other proprietary rights, proprietary information or technology, including employee confidentiality and proprietary information agreements.Any insurance policies held by the Company or of which the Company is a beneficiary and a summary of such policies, if available.Any judgment, order, writ or decree by which the Company is bound or to which it is a party.Any standard forms of agreements used by the Company.Any joint venture and partnership agreements.Any management, service and marketing agreements.Any confidentiality and nondisclosure agreements.Any agreements requiring consents or approvals in connection with the financing.Any consulting contracts.Any other agreements material to the business of the Company, or outside the ordinary course of business.A list of officers and directors. If any officers are not currently devoting 100 percent of their business time to the Company, please note them on this list.Information Regarding Disputes and Potential LitigationAny correspondence or documents relating to any pending or threatened action, suit or proceeding or investigation, including, without limitation, those involving the Company’s employees in connection with their prior or present employment or use of technology.Any correspondence or documents relating to allegations of the Company’s infringement of the proprietary rights of others.Any correspondence or documents relating to any labor agreements or actions, union representation, or strike or other labor dispute.Information Regarding Employees and Employee BenefitsA list of the Company’s employees and consultants, including title, base salary, target bonus (if applicable), commission plan (if applicable), classification (including, if an employee, whether the employee is exempt or non-exempt) and state of residence.The Company’s standard form of offer letter.Any agreements, understandings or proposed transactions between the Company and any of its officers, directors, affiliates, or any affiliate thereof, including without limitation, employment agreements and offer letters with severance benefits or vesting acceleration provisions.Any plans, agreements or arrangements that provide benefits contingent upon a change in control.Any severance or deferred compensation plans (including any salary deferral agreements, whether written or oral, with employees or consultants).Any employee benefit plans, including, without limitation, stock option plans, 401(k) plans, pension plans and insurance plans.Any forms of agreements used in connection with any stock option plans (such as a form of option agreement, notice of exercise and restricted stock purchase agreement).If the Company sponsors a 401(k) plan, any determination or opinion letter and Form 5500 filings for the last 3 years.All documents or other information relating to any loans made by the Company to its employees, directors or consultants.The Company’s employee handbook.If the Company has any foreign employees, separately list (by country) all benefits provided to foreign employees.