ZakOregon

Hi there, I have a small business LLC S-Corp. I have a one person defined benefit in place for the last 5 years. Funded till 2017. In 2018, I am unable to fund the required amount owing to significant personal losses and am considering closing the LLC. I was told by my retirement plan folks that there would be an excise penalty and would still have to fund 2018. That does not seem right. What is the penalty and the process of closure? Thank you in advance!