A rare plan that is still over funded in this market is interested in using the qualified replacement plan (Profit Sharing) approach under IRC 4980(d). They will meet all the requirements (e.g., 95% of current participants will benefit, 25% or more of the excess will be transferred).
Logistically, since they are moving over a portion of the excess assets not attributable to any particular participant, so it's not all participant rollovers, does this then necessitate filing Forms 5310-As with the IRS giving the IRS a 30 advance notice of the transfer of excess assets ?
Thanks in advance for any opinions.
Full Version: 4980(d) Qualified Replacement Plan
QUOTE (JAY21 @ Nov 13 2009, 10:26 AM) 
A rare plan that is still over funded in this market is interested in using the qualified replacement plan (Profit Sharing) approach under IRC 4980(d). They will meet all the requirements (e.g., 95% of current participants will benefit, 25% or more of the excess will be transferred).
Logistically, since they are moving over a portion of the excess assets not attributable to any particular participant, so it's not all participant rollovers, does this then necessitate filing Forms 5310-As with the IRS giving the IRS a 30 advance notice of the transfer of excess assets ?
Thanks in advance for any opinions.
Logistically, since they are moving over a portion of the excess assets not attributable to any particular participant, so it's not all participant rollovers, does this then necessitate filing Forms 5310-As with the IRS giving the IRS a 30 advance notice of the transfer of excess assets ?
Thanks in advance for any opinions.
Jay21,
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