"I have a plan terminating that had about $20k in the Forfeiture Account. They used some of it to pay plan expenses, but even after that there's about $12k left in there. So who does that money get split up between? Is it:

1. Anyone still actively employed at the time of termination (I believe it was just the owner)
2. Any person who had a balance at the time of termination"

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"Hi, Should the Cycle 3 restatement be amendments to include the Plan Termination date? is it a must or does a 5500 hold good?"

"Plan is owner and spouse only. They have 100% of assets (obviously). Is the plan top heavy? I know this question sounds dumb, but I thought maybe top heavy was an ERISA requirement to which they are EXEMPT, but I don't see owner-only plans listed as a plan type not subject to top heavy. I also considered that there would be no non-key employee balances giving us a denominator in our top heavy ratio of 0, making the plan not top heavy. But I can't find what I thought would be an easy answer! Here is why I ask -- the plan was NOT written to exclude keys from the top heavy minimum and both the owner and spouse deferred the max, but they were not wanting to do an ER contribution. Do they have to put in a top heavy contribution for themselves?"