We understand that you have chosen to terminate your iFinance. We are sorry to hear that your iFinance may not have been the right fit for you. It is important that you understand what services Guidant provided and what your responsibilities may be at this time.
Per the terms of the iFinance Agreement:
- Guidant Financial Group, Inc. (“Guidant”) established a corporation for you;
- Guidant established a new 401(k) plan for you; and
- Guidant applied for and obtained the Federal Employee Identification Numbers (EINs) for your new corporation and your new 401(k) plan with the Internal Revenue Service (IRS).
At this time, you have two options:
- You may use the corporation, but terminate the 401(k) plan; or
- You must take the necessary steps to dissolve the corporation and the 401(k) plan.
If you choose to dissolve the corporation and/or the 401(k) plan, there are certain legal formalities that you will need to complete. Certain members of our outside counsel team can assist you with these requirements. Please contact Guidant as soon as possible if you would like to retain outside counsel to assist you with this process. Please note that you may need to retain a local attorney for assistance with your local state requirements.
If you choose to dissolve the corporation, there are certain steps that you will need to take. Please follow the Corporate Dissolution Checklist to complete the termination of your iFinance.