Always Complicated

We generally prefer, termination of the old plan...avoids potential baggage of past defects.

Quick and easy VFCP Calculator https://www.askebsa.dol.gov/vfcpcalculator/webcalculator.aspx

But you have to take into account the Attribution Rules for ownership interest. So may want to re-think the A-org aspect. Why take this risk on -- send the guy to your ERISA attorney. We have a good relationship with ours and he would either 1) if clear cut -- give you the go ahead or say no and 2) if iffy but if he can make the argument -- will directly engage with the client to write the memo giving us cover.