5500 Reporting for Simple 401(k) to "regular" 401(k)

[Guest bgiles]

I have an employer who maintained a Simple 401(k) and then converted to a "regular" 401(k) effective 1/1/01. For 5500 purposes, do we have to file a final 5500 for the Simple 401(k) and reflect the assets transferring from the Simple 401(k) (plan number 001) to the "regular 401(k) (plan number 002) or can this be treated as one plan (001) and simply reflect the new plan name as a "regular" 401(k) on the Form 5500?

[JohnCheek]

I think the answer depends on the paperwork.

Did you adopt a new plan, or did you amend and restate the old plan?

[Guest bgiles]

John,

Thanks for the response. We did this as an amendment and restatement of the Simple 401(k) Plan. With that, I am guessing that you are going to suggest that we do not have to file a final 5500 for the Simple 401(k) and that the plan name will simply change on the 5500 filing. Please confirm.

Thanks,

Brian

[JohnCheek]

Yes, that is my suggestion. After you identify the new name, consider adding "(formerly Acme SIMPLE 401(k) Plan)"

On the 5500, DOL generally identifies your plan based on the sponsor EIN and the Plan number. So long as these don't change, DOL should correctly assume that this is a continuation of last year's plan.