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Lost assets found - after plan terminated


Guest TaxedToDeath

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Guest TaxedToDeath

A plan terminated and was fully distributed. The plan sponsor went out of business. Years later, assets belonging to the plan were found. How can these assets be allocated and distributed to participants when the plan and the plan sponsor no longer exist?

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There's just soooooooo many things wrong with the fact pattern. We can spend years identifying what should've and shouldn't have happened. At the end of the day, that won't solve the "what next" part of your question.

I'd push it through an orphan plan arrangement (which is, admittedly, like shoving a square peg into a round hole).

Good Luck.

CPC, QPA, QKA, TGPC, ERPA

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