New Plan, Short Plan Year, Need 5500?

[Guest amybu99]

I have a 401(k) plan that began 12/1/04. Trustees decided to change plan year to calendar year so now I have a short plan year from 12/1/04 - 12/31/04. Since there have been no deferrals made yet, is it necessary to file a 5500? There are no assets as of 12/31/04.

[Bird]

I think that if the plan existed and there were eligible participants who simply chose not to defer, then a 5500 is required.

I've heard it argued the other way, that the underlying trust doesn't exist until it has money in it. I don't think that's relevant, especially in this case where participants were eligible for deferrals. FWIW, I'm pretty sure that if you decided NOT to file, and then used 12/1/04 as the effective date when you file for the 2005 year, it will get kicked out.