Form 5500 Participant Report Line 7b or 7c

[Madison71]

I have a question related to counting participants on Line 7b or Line 7c of a Form 5500.

So - you have a terminated participant in a DC Plan who has an account balance. Should he or she be reported on Line 7b or Line 7c. I always thought Line 7c because terminated and entitled to future benefits, but the terminated participant is entitled to the benefits now..so is it Line 7b. If not, when would you report someone in a defined contribution plan under 7b? If they are receiving annuity payments under the plan? I have read the 5500 instructions, but it seems a little unclear to me.

Thank you!

[Bird]

7c. "Entitled to future benefits" means "entitled to benefits but not receiving them currently" IMO.

Yes, 7b would most likely be someone receiving annuity benefits (unusual in a DC plan).