Final 5500

[k man]

Two part question - 1) If two participants are actually paid out (checks made) on January 3 of 2003, does that require that a final 5500 be filed for 2003? and 2) The instructions talk about a final 5500 after all participants have been paid out but we have a case of funds being left over for the specific purpose of paying the trustee's fee. can the date the trustee fees are paid out be used as the date for the final 5500 or must you use the date the last participant is paid out?

[Lynn Campbell]

My opinion:

1. yes.

2. I would use the date of the final transaction that took the Plan assets to zero. So that would be the payment for the Trustee's fee in this case.