Cafeteria plan/Wrap plans

[DVAN]

Client is looking at changing cafeteria plan (currently part of a wrap document) to a POP (premium only plan) as they no longer have a Flexible spending account. They currently file 1 tax return with all the wrap benefits.

They've been advised no need to restate and amend the cafeteria plan but just to terminate the plan and adopt a new plan. Is it a simple resolution to make the change or is there a need to send out notices to the participants? Plan is funded by general assets of the employer and insurance, over 500+ employees.

In addition, do the form 5500 filing requirements follow the wrap plan and not the cafeteria plan....so that in this instance no final form 5500 would be filed as the wrap plan itself is still the same.

Thanks for any help!