Qualified termination administrator.

Qualified termination administrator. A termination administrator is qualified under this section only if:
(1) It is eligible to serve as a trustee or issuer of an individual retirement plan, within the meaning of section 7701(a)(37) of the Internal Revenue Code, and
(2) It holds assets of the plan that is considered abandoned pursuant to paragraph (b) of this section.

Source

29 CFR § 2578.1

---

Scoping language

General. The purpose of this part is to establish standards for the termination and winding up of an individual account plan (as defined in section 3(34) of the Employee Retirement Income Security Act of 1974 (ERISA or the Act)) with respect to which a qualified termination administrator (as defined in paragraph (g) of this section) has determined there is no responsible plan sponsor or plan administrator within the meaning of section 3(16)(B) and (A) of the Act, respectively, to perform such acts.

---

Is this correct? or