Plan was "terminated" years ago, but one participant remained.

[katieinny]

I understand that if even one account remains open, the plan is not considered terminated. So they are scrambling now to get the missing 5500s prepared and get the small account rolled to an IRA (the participant couldn't be found). It seems to me that we need to restate the document since it hasn't been updated since GUST, which means a VCP filing because we're beyond the EGTRRA restatement date. Clearly this is going to involve time and expense that goes way beyond the small dollar amount that was left behind. I guess it is what it is, but I just thought I'd ask if any of my peers might handle this differently.

[doombuggy]

I realized that you posted this awhile back, but my answr would be yes. At my prior employer, we had a plan that terminated due to a buy-out of the plan sponsor. One participant couldn't get his act together to get his distribution done. He had about $50k in the plan, and the new owner had to pay us for an annual val & 5500 for another couple of years after everyone else had been paid out. This was circa 2000-2002. Sounds like you are on the right track though.