Help for item E.12a.

Enter the name of the IRA provider for mandatory rollovers. A provider must be designated if the Plan involuntarily distributes an account balance greater than $1,000 and less than or equal to $5,000. The entry to this item will appear in the Summary Plan Description (and the Summary of Material Modifications if the SMM is generated as a part of the Mandatory Rollover Amendment) as well as the Special Tax Notice. This information will not be used in the formal plan document. See Q&A 15 of IRS Notice 2005-5 below for more information.

IRS Notice 2005-5. Q&A-15

Q-15. Is a plan administrator required to notify a participant to whom a mandatory distribution is going to be made that, absent the participant's affirmative election, the distribution will automatically be paid to an individual retirement plan in a direct rollover?

A-15. Yes. Section 401(a)(31)(B)(i) requires that the plan administrator notify the participant in writing (either separately or as part of the section 402(f) notice) that, absent an affirmative election by the participant, the distribution will be paid to an individual retirement plan. The notice must identify the trustee or issuer of the individual retirement plan. A plan administrator will not be treated as failing to satisfy this notice requirement merely because the notice is sent using electronic media in accordance with A-5 of section 1.402(f)-1. Further, for an eligible rollover distribution paid as an automatic direct rollover, a plan administrator will not be treated as failing to satisfy this notice requirement or section 402(f) with respect to an eligible rollover distribution merely because the notice is returned as undeliverable by the United States Postal Service after having been mailed to the participant using the participant's most recent mailing address in the records of the employer and plan administrator.

The foregoing is only intended to be a brief overview of applicable plan provisions. You should carefully review the entire Adoption Agreement and the entire Basic Plan Document to ensure that your responses to the Adoption Agreement questions accurately reflect the intended design of the plan.

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