Life Insurance Policies and Schedule I Reporting

[Guest J Dennis]

Once again, the question has popped up in our office as to whether or not include cash surrender values from life insurance policies on the Schedule I or Schedule H?

The 5500 Preparer's Manual states (referencing a Schedule I)that "All plan values should be shown on this summary, with the exception of insurance contracts (e.g., 412(i) contracts) that guarantee the payment of specific benefits at a future date and participant loans......"

I am personally under the impression that since the CSV is being reported and not the death benefit, it should be included. That being said, it wouldn't be the first time I was wrong.

Any thoughts would be appreciated.

Jill

[edited to note that this is specifically pertaining to DC plans]