SAR Participant Requesting Full Annual Report-

[KJohnson]

Pursuant to an SAR, a participant is requesting the full annual report. Do you give them the Schedule SSA that has social security numbers and account balances of terminated participants?

[Harwood]

As you point out, the SSA has confidential information about other participants. Schedule SSA is NOT open to public inspection. I would not provide it.

DOL Reg 2520.104b-10 mentions the full report, but then it lists 10 items that could be in the report. No mention of SSA.

"You have the right to receive a copy of the full annual report, or any part thereof, on request. The items listed below are included in that report: [Note—list only those items which are actually included in the latest annual report.] 1. an accountant's report; 2. financial information and information on payments to service providers; 3. assets held for investment; 4. fiduciary information, including non-exempt transactions between the plan and parties-in-interest (that is, persons who have certain relationships with the plan); 5. loans or other obligations in default or classified as uncollectible; 6. leases in default or classified as uncollectible; 7. transactions in excess of 5 percent of the plan assets; 8. insurance information including sales commissions paid by insurance carriers; 9. information regarding any common or collective trusts, pooled separate accounts; master trusts or 103-12 investment entities in which the plan participates, and 10. actuarial information regarding the funding of the plan."

[pmacduff]

If you ever use freeerisa.com for 5500 forms, you will notice that they do not post the Schedule SSA information either!

[david rigby]

All Schedules are open to public inspection except E and SSA. (Schedule B is open to public inspection except when attached to form 5500-EZ.) It would incorrect to provide these schedules with a copy of the full form 5500.

[Earl]

about: "3. assets held for investment"

How does that work for an individual account 401(k) Plan. Give info on that person's account? Is the plan required to prepare and provide some sort of rolled up report on the total asset in the plan?

Seems like, in a small plan, that list provides basically nothing to the Participant (asuming just mutual fund investment, no loan defaults, company pays all fees...)

So I would just give the guy a copy of the 5500 and Scheds and a copy of the statements on his account that he has already received?

Thanks

[JohnCheek]

Earl:

Assets held for investment is a requirement only if the plan is required to attach audited financial statements, which generally means a large plan. The schedule lists assets held by the whole plan, with no breakdown by individual account. Further, if the plan has participant loans, it is not necessary to disclose data that identifies individuals; rather, you can aggregate the loans and report them broadly.