Form 5330

[Guest Madison]

When filing form 5330 for late deposit of employee deferrals in part IV question 25a , are must people marking the discrete or other than discrete box?

[E as in ERISA]

If late deposit and correction with earnings all occur in 2005 you file a 2005 5330 marked discrete. One loan.

if the late deposit is in 2005 but correction with earnings doesn't occur until 2006 then you have a second loan starting in 2006. See the instructions. So the 2006 Form 5330 would indicate you have two loans. One for 2005. One for 2006. Not discrete.