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Plan Closure


thepensionmaven
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We have a plan that was terminated in 2020, all money is out of the plan; broker tells us the account must stay open as dividends and interest will trickle in 2021.

Client does not want to file 5500 for 2021.  I don't see how unless maybe the plan account can be renamed to an individual account in the name of the company prior to 12/31, then the account is liquidated and the proceeds paid to TPA as a fee.

Suggestions?

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  • 6 months later...

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