Return of Non-Deductible Contribution

[Guest mingblue]

Facts : for the 2004 plan year a DB client pays the max deductible amount of 3 million; past errors are uncovered while doing the 2005 work & the 2004 max should have been 2 million ; 1 million is returned to the client in late 2005 and then a Private Letter Ruling (PLR) is subsequently submitted for IRS's blessing of the return transaction; client now wants to file the 2005 Schedule B before the results of the ruling are known.

Question : Should the 2005 Schedule B be based on a 3 million 2004 contribution or a 2 million 2004 contribution ? and depending on the answer to this question, the 2004 5500 filing might need to be amended as well to show a revised 2004 Schedule B ?