Company A acquires Company B through a stock purchase. Company A’s plan requires 1 year of service and as quarterly entry dates (1/1, 4/1, 7/1, 10/1). Company A acquired this company on May 1, 2014.
Am I correct in my thinking that the employees of Company B that have been there 1 year would all enter the plan on 7/1/2014? What code section supports this conclusion? My guess it is somewhere in the controlled group regs. Is there a private letter ruling possibly on the subject? I am trying to give the client an example to support my