ombskid Posted February 24, 2011 Posted February 24, 2011 The LLC sponsor of a profit sharing plan is being closed down, and the principal member is forming a new LLC. They want to continue the existing plan and have the new LLC adopt it. I believe I have seen this done before. Can this be done with just an adopting resolution and a new plan document?
Bird Posted February 24, 2011 Posted February 24, 2011 We do it with a resolution/amendment (not a whole new document). We also have the old sponsor sign a resolution indicating that sponsorship by the new entity is ok. Ed Snyder
ombskid Posted February 24, 2011 Author Posted February 24, 2011 We do it with a resolution/amendment (not a whole new document). We also have the old sponsor sign a resolution indicating that sponsorship by the new entity is ok. The old sponsor resolution is a good idea. Thanks
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