Kimberly S Posted October 11, 2007 Posted October 11, 2007 PPA calls for simplified reporting to be made available to plans with fewer than 25 participants beginning with 2007 plan years. Reading the description on pages 8 and 9 of the 2007 5500 Instructions which explains the new simplified reporting, the DC requirements appear to be identical to the 2006 reporting. How is this a simplification? Have I missed something?
Tom Poje Posted October 11, 2007 Posted October 11, 2007 looks like you don't have to fill in a (useless) schedule D
Kimberly S Posted October 12, 2007 Author Posted October 12, 2007 So if we weren't required to file a Schedule D before, there is no change? What happened to the SF form in the legislation?
Mike Preston Posted October 12, 2007 Posted October 12, 2007 I think there are a couple sections on the R you can avoid, too.
mwyatt Posted October 13, 2007 Posted October 13, 2007 Well, that ease up on Schedule R will surely be a timesaver...
Tom Poje Posted October 25, 2007 Posted October 25, 2007 Kim: most of the simplification apparently doesn't take place until 2008 (based on the talk I attended at the ASPPA conference) and no sense in going into more detail as by the time that date rolls around they will modify things again. if you really want to know I'll dig through my stack of handouts and find that talk and go into further detail. I'm not even sure 'simplification' is a good term. instead of using attachments, it seems like we will end up include some of the info included on the misc attachments all on one form.
pmacduff Posted October 25, 2007 Posted October 25, 2007 I have a copy of the sample 2008 5500-SF from Janet's presentation that I could scan and post. Is it ok to post that Tom? I don't want to do anything I shouldn't !
Tom Poje Posted October 25, 2007 Posted October 25, 2007 I think the samples themselves are probably open to the public so I don't see that as a problem. as long as people realize that by the tome 2008 rolls around there may be further modifications. hope you enjoyed the conference! one of my highlights was meeting at least a few people from Benefits Link land.
pmacduff Posted October 25, 2007 Posted October 25, 2007 I enjoyed the conference this year. I hadn't been in a few years. Even for those of us who have been in the business awhile, you can still get information overload, but you learn something every time! Anyway...here's the form in *.pdf DOC071025_001.pdf
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