Implementation

Once a plan is sold, there are a number of actions that must be taken to implement the plan. There are also certain disclosures that the IRS and Department of Labor require.

1. Adopt the plan with a Board of Directors resolution (if applicable).
2. Establish the plan in writing before the end of the calendar or fiscal year for which a tax deduction is desired.
3. Enroll eligible employees.
4. Apply for the annuity and life insurance for each participant.
5. Make the initial contribution to the plan to fund the benefits.

Applications

All policies must be owned by the plan trust, with all benefits payable to the trust.

Ready to Begin?

Submit your Request for Proposal (Form 3405) to the Advanced Sales Department after reviewing the "Components That Interact with This Unit".

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Ohio National is not affiliated with, nor does it endorse or sponsor, any particular prospecting, marketing or selling system.

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