Most profit sharing plans are administered by 3rd parties, not the company itself.
So when you same you have the "company name," if that is the 3rd party administrator, you should contact that company and ask for a copy of the following information:
- Copy of the company plan
- Current value statement
If the plan is not administered by a 3rd party, you will need to contact the company and find out who or what department within the company administers the profit sharing plan. You would then need to contact the person or department and ask for the same information as above.
The copy of the plan (or plan summary) will tell you when and how you can get distribution. But you should also try to just ask whoever you talk to at the company or 3rd party administrator for guidance on what to do. Sometimes they will help, sometimes they won't.
If you do not take all of the funds out of the plan, you can expect to continue to receive an annual statement during the firs quarter of the following year.
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