Jump to content

PBGC audit


Recommended Posts

Our firm has been involved with a PBGC audit of a terminated plan for over a year.

We have to pay out some additional funds due to changes in interest rates.

Plan has been terminated, all accounts closed, some of the participants are not employees.

How do the people get paid if there are no more plan accounts? From the corporation as non employee compensation, and then given a 1099 MISC??

It seems ludicrous to open up plan accounts when the plan has been closed for almost 2 years.

I asked the auditor who told me "it is a legal question, and I do not have the answer."

Link to comment
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now

  • Create New...