Residual intrest credited to plan account after final 5500 filed

[Dennis Povloski]

We have a 2 person plan that terminated. The assets were distributed completely, the DB account was closed, and we filed the final 5500-EZ. Residual interest of about $750 was credited to the plan's investments, so the investment house re-opened the account.

To get the money out, does this really count as a distribution? or is it just an interest credit?

Do I have to revise the final 5500?

Thanks!

Dennis

[Guest dsyrett]

I would probably not refile.

[mming]

I also believe an amended filing is not necessary. If I remember correctly, the instructions for Form 1099-R even say that a 1099-R should not be filed for a payout consisting entirely of residual earnings.

[mwyatt]

Would your opinion change if the residual assets went to the participant without being rolled over?

I still get statements on a closed-out plan with $2.61 left in the account. At some point Smith Barney will wise up and debit the account for two years of postage...