Client is closing down his medical practice on July 31, 2019. He sponsors a safe harbor 401(k) plan.
1. Does he have reliance on safe harbor status even though plan is not a full year?
2. Is a notice to participants required?
3. Is there any special language needed in the amendment to terminate?
The small firm that I was employed by has been bought by another firm whose termination procedures were very different from the way we handled plan terminations. I am looking for guidance on how others handle plan terminations. Thanks for your reply.