DTH Posted August 20, 2003 Posted August 20, 2003 I have a plan that terminated and all assets were disbursed in early 2003. Do I need to provide SARs for the 2002 plan year? All participants received notice that the plan was terminating in 2002 (i.e., NOIT and NOPB). Technically, the DOL regulations do not provide for this exception, but from a practical stand-point it does not make sense to provide the SSA for 2002 or 2003.
Lynn Campbell Posted August 21, 2003 Posted August 21, 2003 I think the 2002 Summary Annual Report should be given to all participants as of the end of the 2002 year. It does seem pointless, but I think it is technically required. At the end of the 2003 year there are no participants, so I see no reason to send the SAR, and no one to send it to...
Blinky the 3-eyed Fish Posted August 21, 2003 Posted August 21, 2003 There were participants in 2003, so I know of no exception to giving that year's SAR as well. "What's in the big salad?" "Big lettuce, big carrots, tomatoes like volleyballs."
MGB Posted August 21, 2003 Posted August 21, 2003 The DOL said in an Opinion Letter in 1978 (I gave the exact reference in an earlier thread) that an SAR is required.
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