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What are the costs to convert a Profit Sharing Plan to a Principal Trust Individual 401(k)?

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

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What are the costs to convert a Profit Sharing Plan to a Principal Trust Individual 401(k)?

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You will be charged the current year annual fee on the Profit Sharing plan plus any outstanding fees. In addition, you’ll be charged the acceptance fee and first year annual fee for the Individual 401(k). You won’t be charged a transfer fee for the Profit Sharing plan.