Guest pjb Posted November 14, 2003 Posted November 14, 2003 Is it in option to show receivables on form 5500 if the plan is daily val?
E as in ERISA Posted November 14, 2003 Posted November 14, 2003 The Form 5500 is not based on the recordkeeping reports. It is generally based on the audited financials, which are prepared based on the trust reports with proper adjustments for the accrual basis of accounting if necessary. If the plan is audited and the financial statements are prepared on the accrual basis, then the client will have to add a footnote to the financial statements explaining why they do not agree with the Form 5500 (if you prepare it based on the recordkeeping reports).
Guest pjb Posted November 14, 2003 Posted November 14, 2003 Are there any issues changing from accrual to cash basis?
Recommended Posts
Create an account or sign in to comment
You need to be a member in order to leave a comment
Create an account
Sign up for a new account in our community. It's easy!
Register a new accountSign in
Already have an account? Sign in here.
Sign In Now