Form 5500 Requirements

[Guest Giovanni]

I’m trying to determine if I need to complete a full Form 5500 for an ERISA 403(B) plan. In addition to 403(B) contributions, this plan also has Employer contributions (matching and additional Employer contribution based on a percentage of compensation). The 5500 instructions for question #8 seem to say that I do not use code 2K (even though there is a match) and I should use code 2M. By using code 2M, the Limited Pension Plan Reporting applies, therefore I only need to complete Part I and lines 1 through 5 , and 8 of the 5500. Also, no attachments are required. Am I reading this correctly?

[Guest LVanSteeter]

Yes, you are correct. Even an ERISA 403(B) does not file the financial and other schedules that 'qualified' plans are required.

[Guest mike webb]

Per page 9 of the 2001 5500 instructions, 403(B) plans should only enter code 2L, 2M, or both codes, as applicable, on line 8.

2L is for 403(B)(1) fixed and variable annuity accounts; 2M is for 403(B)(7) custodial accounts (mutual funds).