Schedule H line 4i (assets held) attachment - how to determine the cost of assets if the assets are with a mutual fund company such as MFS?

[Guest rachd]

For the Assets Held attachment- how do we determine the cost of assets if it's with a mutual fund company such as MFS? (They do not list "cost". We have contributions made for that plan year but nothing that would be cost overall.)

This is the first year the company has needed an audit- the plan has been in existance since 1996 and we have no idea where to start figuring what the actual cost of the assets would have been.

Any ideas?

Thanks in advance for your help,

Rachel

[pmacduff]

Maybe we have done this incorrectly, but we do not include the cost on those types of investments (i.e., mutual funds, MFS) - we mark the column "not applicable". We have never had an issue with this method from either the accountant auditors or when the plan itself has been under audit. I'll be curious to see what others are doing.