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How do you convert a Profit Sharing Plan with another trustee to a Principal Trust Individual 401(k)?

April 26, 2017convert individual k Plan Principal profit sharing Trust Trustee

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How do you convert a Profit Sharing Plan with another trustee to a Principal Trust Individual 401(k)?

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You will need to: • Complete an Individual 401(k) Adoption Agreement (PDF: 703 KB) along with a Transfer Authorization Form/Letter (PDF: 164 KB) • Establish a Principal Trust Individual 401(k) plan at a brokerage firm who is a partner of Principal Trust Company. For a listing of those partners, please contact us at 1.800.209.9010. • Send a check with the adoption agreement for the $100 acceptance fee, $250 annual fee and $75 for each additional participant to the address specified on the adoption agreement.