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As long as you use Line 34 of Sch F you will be ok. Cattle that is purchased and later sold is reported on Form 4797 and not subject to SE. Since farming is a capital intensive business, it is important to coordinate with the CPA or you will do all of the work to later learn he has a loss from depreciation deductions.

And a plan’s administrator or claims administrator might evaluate whether someone should Read The Fabulous Document. Some documents impose a pension-like spouse’s-consent condition even when neither ERISA’s title I nor the Internal Revenue Code calls for it. While decades of improvements in service providers’ documents make such an unintended provision less likely than it once was, it is not yet so infrequent that it’s riskless for a plan’s administrator (or whoever really does the work) to omit reading the document. A risk evaluation might be affected by the size of a distribution, or of a set of distributions.

Here is a link to several posts from a few years ago discussing splitting a plan to avoid an audit: Splitting Plans to avoid audit It includes comments from those who have done this. Note that all of the comments focus on how to split the plan prospectively including steps to take to mitigate possible challenges to the process. There are several comments about the DOL and IRS perspective on how to count participants as of the beginning of the year. Basically, they will look at facts on the first day of the plan year and a plan cannot alter those facts. My take is the plan will not succeed in trying to alter, with a retroactive amendment, the participant counts as they stood on 1/1/2022. It will be interesting to see if anyone has had any more recent experience on the topic.