Form 5500

[Guest CAM223]

What type of form long or short is applicable under the following circumstances?

At the beginning of the plan year the plan did not have any participants. It was not until the fourth quarter that the number of participants exceeded 120.

The form's instructions as well as the regulations refer to the participant count at the beginning of the year.

The plan sponsor does not want to file a long form just as a precaution.

[Mike Preston]

Well, you have the instructions right, so if you have your counts right, you also have your answer. There must be something going on that leaves you a bit uncertain, otherwise you wouldn't have posted the question. So, what is it? Might even be an interesting story!

I guess my only question at this point is how do you have a plan that has zero participants at the beginning of the year and then get to 120 by the end of the year? Consulting for Secretary Mineta in the establishment of training programs for airport security? Company established 12/28/2001, first employee hired 12/28/2001, 401k plan established 1/1/2002, first participant enters plan on 4/1/2002? i guess it is possible.