403(b) plan termination

We are working on a 403(b) plan termination with TIAA CREF.  Although TIAA CREF has certified that the plan is terminated, we have plan summaries with assets after the termination date, which, according to TIAA CREF, is attributable to individual contracts.  These plan summaries still have the plan sponsor's name on the reports.  At what point can we say that we have sufficient documentation to say that the plan is terminated and all plan assets have been distributed?

Have had similar experiences with TIAA Annuity contracts. "Rev. Rule 2011-7 was issued to provide that a 403(b) plan meets the distribution requirements upon plan termination through the delivery to participants of a fully paid individual annuity contract..." (Groom Law Group "IRS Provides More Detail on Terminating 403(b) Plans"  Nov. 19, 2020).  Plan Sponsor "Ask the Experts" of January 16, 2024 indicates that a "fully paid individual annuity contract" means that the contract exists outside of the plan, in effect that the liability for the contract has been transferred to the annuity provider. The contract(s) still exist but the responsibility for the benefit and terms of the annuity contract now rest with the annuity provider and not with the plan.  "Fully Paid" means that the Participants account balance has fully funded the contract; no future payments are required in order that the Participant receive benefits.  In my experience with TIAA and 403(b) plans, it is clear that these requirements are met in the circumstance you describe.  It is also true that TIAA will continue to carry the records for these contracts in the manner you describe.  In other words, I think the requirement has been met.  You can, of course, ask TIAA to list the contracts on a report without the plan sponsor's name but I have not had any luck with this and do not think it is actually required.

OK, thanks!

When preparing a 5500 in this case, are these distributions or transfers?  There is no 1099r from TIAA CREF, but if we indicate this is a transfer out we need to indicate the plan the assets are transferred to.  Also on the Form 8955-SSA, can we say that the previously reported participants are "Code D"?