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Plan Termination


Dobber

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I am hoping someone can provide guidance on the following – I am aware there is separate simple IRA thread however I have not received any responses looking for much needed guidance  
 
Thank you in advance

What options does the sponsor of SIMPLE plan have if they can''t afford to make the required employer contribution? 

It's my understanding unlike a SH 401(k) a SIMPLE contribution can't be reduced suspend mid-plan year. In addition, a simple can't be terminate mid year

My suspicion is this situation will come up frequently due to the havoc COVID-19 is having on businesses; particularly small businesses. 

Thank you

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