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Plan terminating without plan attorney


TPApril

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401k small plan sponsor has just decided to terminate plan by end of year. Plan up to date on amendments but they no longer have a plan attorney. They will not be filing a DL. Is it acceptable to just create a plan resolution to terminate from a template?

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You can amend to terminate through resolution, but you'd typically want a definitive amendment to terminate. The amendment effectively triggers immediate vesting (which is already incorporated into the plan "if" terminated) and a distributable event. You would want your amendment to specify the termination date.

Good Luck!

CPC, QPA, QKA, TGPC, ERPA

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