Schedule I--Q's 2a1 total Contribution and forfeitures

[Guest James Osterhaus]

A company at the end of 1999 had 10,000 in forfeitures which were used to reduce match in 2000. The company contributed 90,000 to the plan in 2000. Our report would show a total contribution of 100,000 (90,000 cont. + 10,000 forfeit) The question is: On question 2a(1) of schedule "I" when listing the total contributions, would we list 90,000 or 100,000

[Guest Ray Williams]

The Schedules H & I reflect additions and subtractions of the Plan's Assets. Use of forfeitures is simply a shift in Plan Assets from one account to another. The Employer only contributed $90,000. 00 in new money to the Plan, and therefore $90,000.00 should be reported on the Schedule.