How to add spouse on I401K plan for S Corp?

[Zigs]

Hi folks,

This question is for those of you S-Corp owners who have experience adding their spouse to the individual 401K contributions.

I have a personal individual 401K account for myself that I maximize self & business contributions for. My spouse and I married this year, and she's a contributor of the company so I'd like to further maximize contributions.

Do I need to set up a SEPARATE individual 401K account under her name, under Schwab, or can she simply make her own contributions into my individual 401K account? How does this work logistically?

[dandarc]

Pretty sure that it should be separate accounts within the same plan, but Schwab should be able to answer your questions specifically. 401K is individual accounts, so you should have accounts for your wife in addition to the accounts you have for yourself.