SAR for Final 5500 (Plan Merger)

[Gilmore]

Company A is purchased by Company B.  Company A's 401(k) plan is merged into Company B's existing 401(k) plan mid plan year (both calendar year plans).

After the merger a final 5500 is filed for Company A's plan showing the transfer of assets to Company B's plan.

Is a final SAR also required for Company A's plan, or does the fact that Company A's plan is continuing on as part of Company B's plan mean that no SAR is required?

Thanks very much.

[Bird]

I don't  have a cite but I'm quite sure it is required.  It is a "summary" of the annual report, and there was an annual report, so why not?  Otherwise there would be a gap in the (useless) information in the SARs.

[Gilmore]

Thanks Bird, makes sense.

[Alonzo Church]

Here is the alternate point of view -- Per 29 CFR 2520.104b-10, the Summary Annual Report is to be provided to participants and beneficiaries of the plan for which the annual report is required. By the time the SAR is prepared, there are no participants and beneficiaries for that plan.

Frankly, the SAR is easy to produce and usually not too hard to distribute. Why not go ahead and avoid any risk?  If the reason is that somebody forgot to do it -- well, you have an excuse for not doing so.