khn Posted July 23, 2020 Posted July 23, 2020 We are filing a final short form 5500 for a plan that merged into another plan effective 3/31/20. In Section VII, question 3a asks 'has a resolution to terminate the plan been adopted?' Should this be a YES or NO since the assets merged with another plan, and did not technically terminate?
david rigby Posted July 23, 2020 Posted July 23, 2020 Would it help to look at lines 8j and 13b and 13c? Luke Bailey 1 I'm a retirement actuary. Nothing about my comments is intended or should be construed as investment, tax, legal or accounting advice. Occasionally, but not all the time, it might be reasonable to interpret my comments as actuarial or consulting advice.
khn Posted July 23, 2020 Author Posted July 23, 2020 Thanks for your reply. 8j, 13b and 13 c all show that the assets were transferred to another plan. The concern is with the 'termination' wording. The way the attorney's drafted the board resolution it states the plan is: 1. tamended and restated to read identically to the xxx Planand that simultaneously the Plan shall be and hereby is, merged with the xxx plan. Does this matter or is it just semantics? The plan isn't in existance any longer and no one can contribute.
Bird Posted July 23, 2020 Posted July 23, 2020 I think David's cryptic message was meant to say "the correct answer is NO it is not terminated." You file it as a final but show the transfer on 8j, 13b and c. Luke Bailey, khn and BenMgr 3 Ed Snyder
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