Form 5500 & Self Directed Brokerage accounts

[MBCarey]

How are self directed brokerage account balances reported on the Schedule H? Should I breakout ltd. partnerships, money market and cash accounts and then combine the monies in the registered investment companies with the other assets which are held at ING?

[E as in ERISA]

See the Sch H instructions for the 5500. For 2001, I think that the instructions for Schedule H indicate that if you have coded the plan to indicate it has such brokerage accounts (using "2R" or something like that on the 5500 itself), then you currently have the choice of either entering the asset by asset or entering all assets on one specific line (although some assets that could result in a loss to the rest of the plan may have to be entered line by line).

[MBCarey]

Thanks for your reply. I see by the instructions where I can aggregate the two different sources, but it also refers to Schedules in 4i that should be completed if there are limited partnerships involved. I am not sure what they are looking for. This is the first year that this plan has had to do a Long 5500. In the past they just reported the ltd. partnerships on the Schedule I in Section 3a.

Are the schedules referred to in 4j of the schedule H applicable? If so, would you report all assets on a separate schedule?

Marybeth

[E as in ERISA]

Can the investment result in a loss greater than the participant's account balance? Do the Schedule H instructions answer your question:

"Participant-directed brokerage account assets reported in the

aggregate on line 1c(15) should be treated as one asset held for

investment for purposes of the line 4i schedules, except that

investments in tangible personal property must continue to be

reported as separate assets on the line 4i schedules.

In the event that investments made through a

participant-directed brokerage account are loans, partnership or

joint venture interests, real property, employer securities, or

investments that could result in a loss in excess of the account

balance of the participant or beneficiary who directed the

transaction, such assets must be broken out and treated as

separate assets on the applicable asset and liability categories

in Part I, income and expense categories in Part II, and on the

line 4i schedules."

[MBCarey]

Thanks for continue to help me. The ltd. partnerships only amount to a little over $35,000 for two individuals with assets in excess of $400,000 in the plan combined. When I prepare the additional schedule for 4i to attach, would I list the assets held in Mutual Funds, the total Outside Brokerage Account balance, and break down the two ltd. partnerships?

I am sorry if I sound like an idiot, but this is the first "new form 5500" I have ever done and have not had to do a long form at all for quite some time. Only have small plans except for this one.

Thanks for your response

Marybeth