Frozen Keogh Plan
Definition of "Frozen keogh plan"
Plan to which contributions are not being made, but which has not been formally terminated. The freezing of a keogh plan (hr-10) may occur in the following circumstances:
- self-employed person stops contributing to the plan.
- personal corporation is dissolved and stops contributing to the plan even though the employee of the personal corporation may continue in the same occupation.
- self-employed person under the original plan may form a partnership or incorporate, necessitating the freezing of the original planand the establishment of a new plan.
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