One person 401(k) plan wanted to move investment companies in 2010, was advised he had to terminate plan and adopt a new plan. Participant was less than 59 1/2 and no distributable event. Assets were rollover over to IRA and never withdrawn, it is still in the IRA, so apparently no tax consequence. The new plan is terminating now in 2018. The owner wants to fix the failure in the first plan.
What is the fix at this point? Can he ride the statute of limitations and do nothing? Appreciate any insights!
Prior discussion here:
https://benefitslink.com/boards/index.php?/topic/56188-successor-401k-plans-correction-thoughts/