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5500 schedule I question 4i


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#1 JAnderson

JAnderson

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Posted 04 October 2001 - 11:44 AM

I have receive numerous answers to how question 4i of the schedule I should be answered. The question: Did the plan at any time hold 20% or more of its assets in any single security, debt, mortgage, parcel of real estate or partnership/joint venture interest?

Seems like this should be a faily easy question, but we have experienced much debate over the correct interpretation on how to answer this question. The Form 5500 instruction book provides little help. The question is: Should Mutual Funds be reported here if the value of any of the funds is 20% or more of the beginning value of total plan assets? My thought and prior instruction have been, No. Only truly, single securities - stocks and bonds for instance. A mutual fund not being defined as a single security, and therefore would have no bearing on this question. Thoughts?

#2 Disco Stu

Disco Stu

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Posted 04 October 2001 - 01:01 PM

They were kind enough to make the instructions a little more specific this year. The instructions for this item indicate that participant directed accounts do not need to be considered in looking at the 20% threshhold.

If the mutual funds you speak of are not participant directed, my understanding is that they would count for the 20% threshhold. Although the only support I have for this is anecdotal.