Can SAR reflect assumed name of sponsor?

[chris]

Client XYZ, Inc. will do business under an assumed name of ABC. Client wants to name plan doc. as well as reflect on all participant communications ABC Retirement Plan. The Form 5500 will include client's name as per the Articles of Incorporation. Any reason why client cannot use the assumed name as referenced above? Thanks.

[Lori Friedman]

The SAR is a fill-in-the-blanks format prescribed by DOL Reg. 2520.104b-10(d). The blanks are filled in with the information taken from the most recent Form 5500. So, the sponsor's name on Form 5500 must be the same name used on the SAR.

If the plan administrator believes that the sponsor's "pseudonym" would be helpful and provide a more complete disclosure to participants, the information can be listed after the prescribed SAR format under the heading "Additional Explanation".

[chris]

Actually the corporate name "gives away" who the principals are in the business and I believe they want to use an assumed name so it is not so readily apparent who the principals are in the business.

[david rigby]

Remind me not to apply for a job there, or do business with that company.

[chris]

Would it not be OK for XYZ, Inc. to file a certificate of assumed name in order to do business as "ABC", reflect its corporate name (XYZ, Inc.) on the Form 5500, but name the plan ABC Retirement Plan and reflect on the SAR and the other plan documents that the employer is "ABC"?

[Lori Friedman]

Your question was whether the plan must use the same sponsor's name on both the Form 5500 and the SAR, and the answer is "yes".

[chris]

Thanks for keeping me straight.