Plan Termination Account Balances Greater Than $5,000

[Guest IRISH79]

Plan sponsor is terminating 401(k) plan and a profit sharing plan. I know that general rule is that you cannot distribute participant's account balance without consent if greater than $5,000. What happens if the participant, for whatever reason, does not make distribution election? Since all assets need to be distributed within one-year, can the plan sponsor just send these participants lump sum checks? How long must sponsor wait for participants to make an election?

[WDIK]

Here is one of several pertinent discussions.

http://benefitslink.com/boards/index.php?showtopic=27767