Pension RC Posted March 28, 2017 Share Posted March 28, 2017 Involved in a PBGC plan termination and the Form 500 was already filed, so the 60-day review period has started. I just found out that one person, whom we assumed never worked 1000 years in a year, actually did work 1000 hours in 1 year and, since the plan is terminating, is 100% vested in a 1 year benefit. We plan on sending distribution forms to this person. Is it necessary to file an amended Form 500, which would start the 60-day clock again? Thanks! Link to comment Share on other sites More sharing options...
Mike Preston Posted March 28, 2017 Share Posted March 28, 2017 Usually, no. But the PBGC is extraordinarily responsive on questions such as this, so just call the PBGC and talk to the person this case is assigned to. Link to comment Share on other sites More sharing options...
Effen Posted March 31, 2017 Share Posted March 31, 2017 I agree with Mike, I would not refile. This kind of thing happens all the time with larger plans. Just make sure to report it correctly on the 501. The material provided and the opinions expressed in this post are for general informational purposes only and should not be used or relied upon as the basis for any action or inaction. You should obtain appropriate tax, legal, or other professional advice. Link to comment Share on other sites More sharing options...
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