Hello,

I wanted to get your thoughts on the following:

ABC company has 10 employees and has sponsored a 401k for 5 years. The company was recently sold in the form of an asset sale. The name was purchased, but now operates as ABC company, LLC with a different EIN.

• The employees are the same, but since the company is new and the sale was an asset sale, would it be possible for the company to set up a new 401k plan and qualify for the start-up credits for the next three years?

• Would they also qualify for the exemption to requiring auto-enrollment since the company is new and has not been in existence for 3 years?

Thank you.