schedule b and valuation date

[abanky]

someone told me that for the schedule b, i only need update every 3 years... is this correct? how could it be?

example... for 2006 Schedule B, valuation date 1/1/2004... for 2005 Schedule B, valuation date 1/1/2004 and 2004 schedule b 1/1/2004

[WDIK]

The Schedule B instructions offer the following information.

Line 1a. Actuarial Valuation Date. The valuation for a plan year may be as of any date in the plan year, including the first or last day of the plan year. Valuations must be performed within the period specified by ERISA section 103(d) and Code section 412(c )(9).

[abanky]

The Schedule B instructions offer the following information.

Line 1a. Actuarial Valuation Date. The valuation for a plan year may be as of any date in the plan year, including the first or last day of the plan year. Valuations must be performed within the period specified by ERISA section 103(d) and Code section 412©(9).

Yes, I read that... and both sections indicate a val must be done once a year... i didn't know if there was something i was missing or the person who told me this info was an idiot... i'm thinking the latter