Does a 401(k) that terminated as 0f 12/31/09 need to restate?

[RayJJohnsonJr]

The employer terminated their 401(k) as of 12/31/09 and implemented a Simple beginning 1/1/10. Do they need to restate the 401(k)?

Thanks,

Rene

[Kimberly S]

Will all of the 401(k) plan assets be distributed before the restatement deadline?

[RayJJohnsonJr]

Yes, all assets have been distributed.

[Bill Presson]

Whether you call it a restatement or not, the plan has to be up to date with all provisions at the time of termination/distribution.

[britoski]

Rev. Proc. 2010-6, Section 12.07 might be helpful guidance. It provides that a terminating plan generally does not have to be restated. (Although, of course, as pointed out in previous posts, it must be updated for current law.)