What to expect from a business/plan closure

If you are planning to either terminate your plan because you want to close the business, or terminate the plan but keep the business open, please download the PDF on this page for the steps you will need to take to complete the process.

IMPORTANT NOTE: If you plan to terminate the plan but keep your business open, please be aware of the following:

Once your plan no longer holds any stock of the C-Corporation, someone must own shares of the corporation. If you do not already own any shares of the company, you need to purchase at least one share directly from the C-Corporation before completing your stock buyback and finalizing the plan termination process.

If your goal is to convert from a C-Corporation to an S-Corporation or LLC, please be aware that you are NOT REQUIRED to terminate your plan in order to accomplish that goal. If you would like to discuss this further, please resume watching the video and include a note in the email form provided at the end, and we will reach out to you.