revert 401k plan to a simple IRA Plan
Our company changed from a simple IRA Plan to a 401k. We would like to revert back to a simple IRA Plan. Can this be done? We are in the 401k plan less than a year.
Re: revert 401k plan to a simple IRA Plan
NOTE: This communication is not intended as and should not be interpreted as legal advice. Rather, it is intended solely as a general discussion of legal principles. You should not rely on or take action based on this communication without first presenting ALL relevant details to a competent attorney in your jurisdiction and then receiving the attorney's individualized advice for you. By reading the "Response" to your question or comment, you agree that the opinion expressed is not intended to, nor does it, create any attorney-client relationship, nor does it constitute legal advice to any person reviewing such information, nor will it be considered an attorney-client privileged communication. If you do not agree, then stop right here, and do not read any further.
You would need to consult with either a tax attorney or a qualified CPA. He or she would have to review your plan and then provide you with an answer.
Scott R. Jay, Esq.
