Which of the following statements with respect to the requirements of a qualified plan is false?

• A.The qualified plan must be in writing and must be communicated to your employees. The provisions must be stated in the plan.

• B.An employee must be allowed to participate in a companys qualified plan if the employee is at least age 21, but not over age 65, and has at least 1 year of service (2 years if the plan provides that, after not more than 2 years of service, the employee has a nonforfeitable right to all of his or her accrued benefit).

• C.Advance IRS approval is not required for an individually designed plan. Approval can be obtained by paying a fee and requesting a determination letter.

• D.You can use either a prototype plan approved by the IRS or an individually designed plan to meet specific needs.