457(b) Top Hat Plan

[Guest wjr]

Can anyone tell me how a private tax-exempt organization is suppose to record/report the assets held in a Top Hat plan. I realize these are "unfunded" plans, but since the investments for such plans are assets of the employer, not sure how they show up on the financials.

[mbozek]

They should be included as assets on the NPs books and records the same as any other NP assets such as bank accounts, because the NP is the owner of the assets. However, there may be some reporting requirements of the deferred compensation on the NP's 990 form if the NP is required to file with the IRS. Check with the NP's accountants. Also 990 forms are public documents that can be obtained by any person upon request.