Form 5500 Question 22a, b, & c

[pbarrett]

We primarily use standarized prototype docs that have been issued an opinion letter (dated 6/1/90)by the IRS. When completing the 5500 (Q 22a) we answer yes that it qualifies under code 401(a). We use the date of our opinion letter for 22(B) as we have no determination letter. We have been told by a pension atty we should leave 22 b & c blank because we have only the opinion letter. I feel the form would reject without a response. Anyone have any ideas here?

[John A]

I would agree with the atty, if you are completing the 5500 for a standardized plan and the plan sponsor only has the opinion letter, leave 22 b&c blank. I have filed 5500s with 22 b&c blank in the past and have not had the form rejected. No guarantees though, just my opinion.

[Guest David Dye]

Comment on Line 22b per my reference source --

"In order to have received a determination letter from the IRS, you would have had to submit an Application for Determination (e.g., Form 5300, or 5307) with the IRS. A plan sponsor using a standardized prototype with standardized reliance will not obtain a determination letter and should leave 22b blank."

From:

HOW TO COMPLETE IRS AND LABOR DEPARTMENT REPORTING FORMS (FOR PENSION, PROFIT SHARING, AND OTHER EMPLOYEE BENEFIT PLANS)

By: Edward F. Cahill, J.D., CLU

Published by: The New England Life Insurance Co.

Hope this helps.