702 - Small Plan Terminations
Terminating a qualified small employer retirement plan involves navigating a complex web of IRS and DOL regulations. For financial and tax professionals, guiding a small business client through this process requires a meticulous understanding of timing, compliance testing, participant notifications, and asset distribution. Panelists provide a comprehensive, step-by-step roadmap for executing a successful small plan termination. Participants will learn how to identify common operational pitfalls, manage the winding-down of plan assets, and ensure all regulatory filing requirements are met to avoid costly penalties and plan disqualification. Participants will come away with ability to identify the legal and operational triggers that necessitate a plan termination, outline the timeline and procedural steps to terminate a small employer plan, including the compliance requirements, protocols for finding missing participants, distributing plan assets, and accurately preparing the final regulatory forms specifically focusing on the final form 5500.
Speakers:
Lance Paul Roteman