When a single employer plan merges into a MEP, the single employer plan files a final 5500. If the employer later decides to spin off from the MEP into a newly established single employer plan, can that employer use the original Plan Number (001) and effective date of the original single employer plan (prior to the merger)?
I have a single employer Plan (effective 01/01/2017 / Plan 001) that merged into a MEP in 2021. A final 5500 was filed for the single employer Plan for a short plan year in 2021. The employer has decided to spin off from the MEP into a newly established single employer plan in 2023. Can the single employer Plan use the original effective date of 01/01/2017, and IRS Plan Number 001, or should the effective date be the date the assets spun off from the MEP with a Plan Number of 002?
Final 5500
in In General
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Hello,
When a single employer plan merges into a MEP, the single employer plan files a final 5500. If the employer later decides to spin off from the MEP into a newly established single employer plan, can that employer use the original Plan Number (001) and effective date of the original single employer plan (prior to the merger)?
I have a single employer Plan (effective 01/01/2017 / Plan 001) that merged into a MEP in 2021. A final 5500 was filed for the single employer Plan for a short plan year in 2021. The employer has decided to spin off from the MEP into a newly established single employer plan in 2023. Can the single employer Plan use the original effective date of 01/01/2017, and IRS Plan Number 001, or should the effective date be the date the assets spun off from the MEP with a Plan Number of 002?
Thank you!