Guest moltengater Posted December 16, 2005 Share Posted December 16, 2005 Company A is a 401(k) plan with safe harbor non-elective contribution - plan year end 12-31-2005. The owners of company A sell the assets of the company to XYZ on 12-15-2005. XYZ wants to maintain the plan for the employees. Who is responsible for paying the safe harbor contribution for the plan year ending 12-31-2005 - Company A owners or the new owners? Is this something that had to be determined in negotiations? Link to comment Share on other sites More sharing options...
Randy Watson Posted December 21, 2005 Share Posted December 21, 2005 I don't see why it wouldn't be the new plan sponsor unless the purchase agreement stated otherwise. Link to comment Share on other sites More sharing options...
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