Plan Terminations

[austin3515]

This DOL FAB suggests that before you can transfer anyone's account to an IRA in a terminating plan, you must use the IRS letter forwarding program. Are people actually doing this, or am I the only one? Or are people assuming that non-responders are simply that - nonresponsive and defaulting them out to an IRA within X number of days.

http://www.dol.gov/ebsa/regs/fab_2004-2.html

[Jim Chad]

FWIW We use the IRS program any time the envelope comes back "undeleiverable".

If this happens we use the internet and the IRS forwarding program.

[austin3515]

What do you mean by Internet?