Closing 1 corp, starting new one - same ret plan?

[TPApril]

Business owner is shutting down his practice, moving states, and opening a brand new practice.

Although it's the same line of work, for practical purposes he is planning to create a new S-Corp in the new state and shut down the old one.

There are and will not be no other employees.

Any reason he cannot just keep the same 401(k) plan and rename it under the new Corp?

[Bri]

He probably should, even, just to avoid the successor plan issue.  If he's 100% owner of both entities they're clearly related.

[Bill Presson]

Agreed. Just tell him to make sure the entities overlap in existance.

[Lou S.]

Why not have the new entity be an adopting employer than remove the old entity after it shuts down?

[Bill Presson]

4 hours ago, Lou S. said:

Why not have the new entity be an adopting employer than remove the old entity after it shuts down?

Agreed. Same.