Business name change

[ratherbereading]

One of my client's changed the name of their business. We advised them to change the business name in the Plan document and they refused. Does it matter?

[ETA Consulting LLC]

It's not a major show stopper; especially since the EIN has not changed. Can't think of why they wouldn't want to change it. Consistency is good. What are they basing their objection on?

Good Luck!

[ratherbereading]

Thanks ETA Consulting. They are basing it on the fact that they don't want to pay $350 for the amendment...!

[david rigby]

There may already be language that covers it, in a generic sense.

[Doghouse]

I think you can call a plan just about anything you want, and I've seen some doozies. The more important issue is the name of the plan sponsor, and I think you are okay there as long as the document includes successors as part of the Employer/Sponsor definition.

[jpod]

This is not a successor situation, so any such language is irrelevant. There is absolutely no legal reason whatsoever if - as the facts state - there is no change in Plan Sponsor/EIN, only a change in name.

[austin3515]

Our document specifically says changes to Employer Information does NOT require a plan amendment.

[Doghouse]

jpod - did the OP not state that they changed the name of the business? Presumably the prior name is now retired. So I must respectfully disagree with you that it is okay to have the plan sponsor stated as previously, without some kind of rationale. I also think you are reading too much into the word "successor". Just my opinion.