PS Posted September 21, 2021 Posted September 21, 2021 Hi, One of the terminating plan has been advised by their counsel to have company name changed as of the effective term date. Will this require an amendment? since they want the 5500 and all filing to be done with the new company name hence wanted to check if a plan amendment is required. Thanks
ESOP Guy Posted September 21, 2021 Posted September 21, 2021 Maybe it is me but your question is confusing. Are they changing the company name or the company and plan name? There is no need to amend the plan document if the company name is changed. There is no requirement the plan's name changes if the company's name changes. If they are actually going to bother changing the plan name then I would assume that would take an amendment as that is defined in the document. That strikes me as a waste of time and money to do. I have seen companies that close down change their name from XYZ, Inc to XYZ liquidation (or close down) corp. and not change their plan name. So maybe a little help on what you are asking is in order. Are you just worried about the 5500? Bill Presson 1
PS Posted September 22, 2021 Author Posted September 22, 2021 Thank you! They intent to change only the company name and not the plan name. Yes, I was a little concerned about 5500.
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