orphaned plan

[Guest lindamichals]

I have a single employer/employee money purchase plan in which the employer died last year. I'm assuming this becomes an orphaned plan. My question is would his beneficiary have to assume sponsorship of the plan as a successor employer in order to sign the final 5500? There is no one else beside his beneficiary who would have any vested interest in this plan. How is this accomplished? A board resolution assuming sponsorship? Thank you.

Linda Michals

[WDIK]

I assume that in the situation you describe that the sponsoring employer was a sole-proprietor since you refer to the death of the employer. (This is somewhat unclear because you also refer to a board resolution.)

If so, see the following thread.

http://benefitslink.com/boards/index.php?showtopic=30086

If not, there should be an authorized individual that can transact business on behalf of the corporation.