Guest SPOT Posted June 7, 2002 Posted June 7, 2002 I have a client who has a 100,000 fidelity bond with ERISA inflation guard. Does anyone know what this means? The trust assets are more than $1,000,000. Should I put $100,000 in Sch. I as the value of the bond?
Blinky the 3-eyed Fish Posted June 7, 2002 Posted June 7, 2002 It means that as the assets rise the bond is guaranteed by the insurance company to meet the requirements of ERISA. Therefore, I would put an amount that meets those requirements on the Sch I (i.e. 10% of the assets). Caution though, with the new small plan audit requirements, it may not meet that need. "What's in the big salad?" "Big lettuce, big carrots, tomatoes like volleyballs."
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