Fiscal Plan Year

[MGOAdmin]

Facts:

Owners of company X are selling the assets of the company on October 31, 2015. They will be paid over a three year period for the sale.The tax year ends 12/31/2015.

Would there be any issues setting up a cash balance plan starting Novermber 1, 2015, ending October 31, 2016?

My concerns are:

1. Combinig with the existing PS plan which has a plan year of 1/1-12/31

2. There will be no employees after the sale, but there are employees until 10/31/15.

3. Would they be able to deduct the contribution for the 11/1/15-10/31/16 plan year in the 2015 tax year?