final plan year (short plan year) where the assets are distributed; amendment required?thanks!

[Guest hog4you2]

can anyone tell me where I can find any regs regarding final plan year (short plan year) where the assets are distributed; the form has a short plan year (date of distrib) but someone at my firm wants proof of no requirement to amend the plan for this final year.

thanks!

[K-t-F]

Amendment for what? The plan I presume is up to date with EGTRRA and GUST. You would need a corp resolution to terminate the plan. You have distributed the funds so there is no $$ left in the plan (again assuming you had the participants complete distribution packages and they received all their account bal since the plan terminated). File the final 5500 come year end and form 5310 (if you need).

[WDIK]

I believe that someone hog4you2 is working with assumes that in the final year of a plan, an amendment should be adopted to reflect the short plan year. I think there is some confusion on the part of this person because Section 2 of the Form 5500 instructions state that "for purposes of this return/report, the short plan year ends...upon the complete distribution of assets of the plan."

I believe that the short plan year is for purposes of the return and no plan amendment is required. I can point to no statute, but would recommend that hog4you2 ask the other person to provide some citation supporting his or her position.

[Guest hog4you2]

thank you for your replies. I finally convinced them that no amendment was needed--the date is determined by the distribution of assets and the form instructions.

finally! good thing it is slow right now..