WantsToLearn

@BG5150 If the plan is under $250K should the owner file one additional year as 5500EZ to indicate the plan as owner only and under $250K?

Thanks @Bill Presson I tried to look for an existing post 😅. For Profit Sharing plans is there anywhere that indicates the minimum timing to notify participants of adopting a resolution for termination? I have been told 15-days is the minimum, but I have been unable to locate a source for this information.

I have a small Profit Sharing Plan that wants to terminate ASAP. I wanted to confirm we could accomplish this with a 15 day notice to participants so I checked the IRS website and found the below information under "Plan Terminations - Required Notices". Did we loose the 15-day notice and/or 30-day notice of Termination for small plans? Retirement Topics - Notices | Internal Revenue Service (irs.gov)