"Owner only plan. Loan was not paid off in 5 years (5 years ended 12/31/2025) and 3 left. Is there any self correction? Otherwise, what needs to be done?"

"Is there any reason why a plan with individual named trustees would be exempt from having a separate trustee agreement that includes provisions covering such matters as the powers and duties of trustees, investment authority, and the kinds of investments that may be made?

"Here's some background, a client of ours is changing custodial platforms and the custodian has requested a copy of the plan's trust agreement. This is very standard in my experience. I noticed we didn't have a copy of the signed trust agreement for Cycle 3 and asked the client for a copy. The advisor reached out and indicated that they thought a plan with an individual trustee wasn't really required to have a trustee agreement. The plan uses a pre-approved document and the document provider does provide a standardized trust agreement.

"I know that they are not required to use the document providers standardized trust agreement but I've never heard of a plan being exempt from having one."

"L2025 Plan Year, Cash Balance Plan, Sole Prop, Current Benefit Formula: 100% of Compensation. Can the benefit formula be amended to 50% of Compensation (i.e. decrease the benefit without violating 411) for 2025 plan year only under 401(b)(3)? I assume not but wanted to see if community has any thoughts. I understand the accrual rules are generally not a consideration when increasing the benefits under 401(b)(3) but does the same apply for 411?"