Loans and Schedule of Assets Held for Investment (Sch. H)

[steve-o]

Need some guidance on participant loan reporting for Schedule H.

Does the aggregate participant loan amount have to be reported on Line 4i? To me, the instructions are unclear. I've heard some people say you must report them, others say you don't. Any help would be appreciated.

[WDIK]

The following is found at the bottom of page 44 of the 2003 instructions.

Notes: (1) Participant loans under an individual account plan with investment experience segregated for each account, that are made in accordance with 29 CFR 2550.408b-1 and that are secured solely by a portion of the participant’s vested accrued benefit, may be aggregated for reporting purposes in item 4i. Under identity of borrower enter “Participant loans,” under rate of interest enter the lowest rate and the highest rate charged during the plan year (e.g., 8%–10%), under the cost and proceeds columns enter zero, and under current value enter the total amount of these loans.