Form 5500 Count

[Guest notapensiongeek]

We have an employee who has not met the plan's eligibility requirements, but made a rollover contribution / transfer into the plan during the year (rollovers are permitted in the plan document by anyone, whether or not they have met the plan's eligibility requirements). Since his rollover account is now a plan asset, do I count him as an active participant at year-end or do I exclude him from the 5500 counts?

Thanks!

[Bird]

Exclude. When in doubt, I try to interpret the questions in the most literal way possible, even if it's not exactly logical.

[JanetM]

I agree with Bird. Literal interpretation is only way to read it.

[Guest notapensiongeek]

Thanks!

[BG5150]

Yet he would be counted in 7g.

And as long as his account is not the difference between a large and a small plan filing, I wouldn't worry about it too much.