Unsigned (DB) Plan document

[Guest JMH1962]

I know this topic was cover in these boards about 5 years ago but I am still can't find a definite answer. During a takeover, client was asked for a signed copy of their DB Plan doc (they had provided an unexecuted copy). They cannot locate a signed copy (and most likely never had one) in their files or archives. I have read everything from the "plan doesn't exist" or it's "disqualified" to "it's no big deal, you can provide signed board resolutions or a determination letter showing establishment of the plan effective date". I don't see anything in VCP that covers this exact issue. Thanks.

[Guest Sieve]

If you have a favorable letter for that document, then you're ok. Probably OK, too, if there's a signed Board resolution/consents that establishes the Plan--if the consent/resolution is signed prior to end of Plan's 1st year, with notice to employees. Remember, there is no requirement that the document be signed before the end of the first year, just a requirement that the details of the plan's provisions are established in writing (which was done here, presumably, through the plan document) and that the employees be given a description of the major provisions of the plan (such as through an SPD), both before the end of the plan's 1st year. (The descrition to employees before the end of the plan's first year is very often ignored, but is required--signing a document without giving employees notice is not enough.)

If you can establish that these occurred, and that the Board approved the plan, all before the end of the plan's 1st year, then you're fine even without a signed doucment. I've received a favorable letter relating to a year when there was no signed document because we met the necessary description and employee notice requirements--without those, however, I think the plan is fatally defective until the year in which those requirements have been met.

[Guest JMH1962]

Thanks.

[david rigby]

Someone once told me that if you can hold your Board of Directors meeting in your bathtub, you don't have a problem.

But it's probably best to follow Sieve's advice.

[GMK]

you can hold your Board of Directors meeting in your bathtub

well, there's an unsettling image that I didn't really need to start this week.