I’ll get the referral from and advisor or third party administrator (TPA) with the plan that hasn’t been restated for 15 years and haven’t filed for a 5500 in just as long. They introduce me to the potential client, I offer them my help, and then crickets.
Even when presented with possible plan disqualification and 5500 penalties that can be thousands of dollars a day, I hear nothing. They’re looking for the one provider who suggests they can terminate the plan or merge into a new plan, to cover the “dead bodies.” Even with all their issues, they still think they can skimp.
