Successor plan

[PS]

Good Morning!

Need clarity on handling distribution for a successor plan.  There was a stock acquisition and seller plan did not terminate a day prior to the sale date since the termination date and the sale date happened to be the same date this lead to a successor plan situation.  The terminating plan has about 26 participants with balance out of which 3 are terminated part and 2 retired the rest are Active participants.  There are 2 participants who have active loan as well ( Active part), the acquiring company counsel has advised the 5 participants funds can be distribution however the rest of the 21 part should be transferred to the successor plan ( acquiring company 401k plan). I have couple of questions. 

1. Since this is a successor plan situation will this be a Transfer or Rollover ? 
2. How will the tax record be handled? 
3. Again should we simply be transferring the loan to the successor plan or will it be a rollover to the successor? 
4. I believe a final 5500 will be required correct? 

Thanks

 

[CuseFan]

IMHO:

1. Transfer (trustee to trustee) - it's only a RO if person has ability to receive, which is not the case.

2. N/A for transfer of this sort, reported on 5500s.

3. Yes, transfer.

4. Yes, and remember it is due by end of 7th month following the month assets went to zero.