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401(k)(10)(iii) - Distributable event or not?

Guest quentin

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Guest quentin

Company x owns 51% of stock of z corp., indiv. y owns remaining 49%. according to stock attribution rules of 414©, z corp. is treated as controlled group with x and participates in x's 401(k) plan. Individual y will purchase the remaining 51% of stock in z and start up a new 401(k) plan. Do the z participants in x's plan have a distibutable event upon the acquisition of all the stock in z corp. by individual y?

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