"Issue Indicators or Audit Tips: [1] Form 5310 Determination Letter applications: ... If the plan is underfunded, determine how the benefit liabilities under the plan will be satisfied. A majority owner may agree to forego receipt of all or part of his or her distribution.... Determine if the plan has an unpaid minimum required contribution for any plan year that is subject to an IRC Section 4971(a) excise tax.... [2] Examinations: ... Verify that the trust balance sheet accurately reflects the fair market value of all assets and liabilities.... If there is a funding deficiency, determine if the IRC Section 4971(a) tax has been paid.... Verify that all assets have been distributed from the plan's trust as soon as administratively feasible after the stated date of plan termination."  MORE >>