SAR disclosure of qualifying assets

[KateSmithPA]

I am preparing the SAR for a small money purchase pension plan. Most the plan assets are held in an insurance company variable annuity product. However, one of the participants has his assets in two brokerage firms. I was listing the assets on the SAR and then realized that the participants have a right to ask for statements from the brokerage accounts, even though they personally are not invested in them.

Is this correct? And, if it is, do they actually get to see an asset statement showing this one participant's balance in those accounts?

[BFree]

See the instructions for Schedule I, they will give conditions about avoiding the small plan audit requirement. Among the conditions is the SAR change. The SAR disclosure requirement "does not apply to...individual account assets (described elsewhere in the instructions)." Your brokerage accounts should fall into this category.

[KateSmithPA]

BFree: Thanks for your advice. I will go back and do my reading.