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Non Prototype plan


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One of the Plan sponsor changed their Non-prototype plan to a prototype 401k plan, there also have a ESOP plan with a different record keeper.  The plan sponsor failed to amend the plan document when they changed it from Non-Prototype to Prototype.   The Plan sponsor now sent us the document stating they have amended the plan to include ESOP feature effective 07/31/2021, I believe they cannot do such an amendment on their own and it should be done by us since we are the record keeper for the 401k plan correct?  The plan sponsor states they were advised by they lawyers that when they added the Roth provision for ESOP purposes it required creating a KSOP. they were also told that this required (per government rules) both 401(k) and KSOP features be captured in a single document. They cannot be separate documents.  I've never encountered this before any thoughts how we can proceed with the termination on the 401k plan? 


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  • PS changed the title to Non Prototype plan

The client had a non-prototype qualified plan and a ESOP plan.  They changed the non-prototype plan to 401k plan and now decided to Terminate the plan.   They have the ESOP with a different record keeper. 

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