Changing the name of the plan- what do I do?

[Guest bdm_7458]

Dumb question...I've got a 401(k) plan that's changing its name. Do we file something with the DOL so that its not looking for a 5500 next year under the old name? I've been searching, but can't find the answer anywhere!!

[WDIK]

I'm not aware of a formal notification requirement to the DOL. I believe that the plan will be tracked by EIN and PN, so changing Line 1a of Form 5500 should not create a problem.

Of course, there are notice requirements with respect to participant communication and information.

[K2retire]

The second page of the 5500 has a place to put the prior plan name and such.

[WDIK]

The second page of the 5500 has a place to put the prior plan name and such.

I believe that you are referring to Lines 4a, b and c, which technically report prior Sponsor, EIN and PN (but not plan name) "if the name and/or EIN of the plan sponsor has changed since the last return/report".

[K2retire]

That is the question I was thinking of, and without looking at the form, I may have recalled the exact wording incorrectly.

[Lori Friedman]

I'm not aware of a formal notification requirement to the DOL. I believe that the plan will be tracked by EIN and PN, so changing Line 1a of Form 5500 should not create a problem.

Agreed. All you need to do is use the plan's new name on Line 1a.

If the plan's name is relatively short, and if you have enough room, you can describe the change parenthetically:

XYZ Plan (Formerly ABC Plan)

This isn't mandatory, however.