Terminating plan with outstanding check

[Cynchbeast]

We have a Profit Sharing plan that the sponsor wanted to terminate in 2012. All termination paperwork is complete and all remaining participants (about 20) have been paid out. Total distributions approximately $773,000

All money had been moved into one checking account. I received confirmation from the plan administrator that all final checks as well as the taxes withheld were cashed as of 12/31/12 (PYE) EXCEPT for one IRA rollover in the amount of $20,000.

Question: We end 2012 with a checking balance of $20,000 and an outstanding check for $20,000. Can we consider the plan terminated in 2012 since the net trust balance is $0, or must we carry it over into 2013 since technically the trust still had some assets?

[Bird]

I consider that to be paid out; net assets are $0.