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They disappear to another dimension. Few have crossed over, only one has returned, matthew mcconaughey. He reported vast wastelands full of 401k plan documents, annual reports, and participant notices. And socks. Soooooo many socks. And yet, not a single matching pair. I need coffee...

When we do amendments the software has an employer resolution template where they and both add and remove trustees. In the adoption agreement, we just delete the old Ttees and add the new ones. The memorialization (is that a word? I don't think so) comes in the resolution, not the plan doc.

Nope. Termination is no longer a distributable event

Unless the real property is burdened by an assessment, attachment, covenant, lien, levy, tax, or other liability, wouldn’t the property have a value at least slightly more than $0.00? Or if there really is no buyer: Does the plan’s governing document permit (or at least not preclude) a distribution of property other than money? If the document precludes such a distribution, is it feasible to amend the document? If the plan distributes the real property, the Form 1099-R would report the trustee’s or administrator’s good-faith and prudent estimate of the distributed property’s fair-market value. A retirement plan should not donate its property, except, arguably, for property that has a negative value, and then only if, among other conditions, the transfer likely would succeed in getting rid of the plan’s liability.

Are you talking IRS, or independent CPA audits of large plans? If it's the latter, you gotta realize the mindset of auditors. They audit that which is provided to them. It's not the auditor's role to go outside to gather data (even confirmations are officially requested by the client to go back to the auditors). If they want something changed, they tell the client to change it and send it to them, they don't do it themselves. I get it, but taken to extremes it seems weird and highly inefficient.

Funding is due 9/15 after the plan year. AFTAP must be certified by 10/1 of the current plan year. For example: plan adopted 12/1/2021, effective 1/1/2021. The 2021 AFTAP has to be certified by 10/1/2021, but 2021 minimum funding isn't due until 9/15/2022. If restrictions applied in the first year, you would have to say that the 2021 AFTAP wasn't certified timely and therefore no benefit was allowed to accrue for the 2021 plan year. Which is clearly ridiculous. Even more so if you consider a plan adopted in the following calendar year, under the SECURE Act. No, I am saying that 436(e) (and (b) and (c), for that matter) does not apply in the first 5 years of a plan.

1. Set up the new 401(k) which invalidates the Form 5305-SEP as you mentioned. 2. Take a corrective distribution of the 2021 failed/excess contribution (and applicable earnings) from the SEP-IRA account by 4/15/2022.

It doesn't matter whether the AFTAP was actually certified less than 60% or merely deemed less than 60%, 436(e) does not apply in the first 5 years of a plan.

You didn't say how old the plan is, but I'm assuming more than 5 years. The restriction limiting benefit accruals does not apply for the first 5 years of the plan. I'm also assuming there have never been any distributions from the plan or amendments increasing liabilities, so the only concern is the restriction on benefit accruals. What you might do is certify the AFTAP now, then amend the plan to reinstate the prior years' benefit accruals. If you are already restricted for 2021 because no AFTAP was certified before October 1, then wait until January to amend. If you feel this constitutes a significant qualification failure, and it has been more than 3 years since the restrictions should have first applied, then have the client file VCP.

We take EBP's approach - we just send them for all clients. Otherwise too easy to miss notices in a situation that requires them, and this way we don't have to think about it! Participants are "noticed" and "disclosured" to death already with stuff they don't read - what's one more thing to recycle, right?

A retirement plan is like a gym membership. You have to keep paying for it even if you are not using it. When you cancel your membership/terminate the plan, you can stop paying.