Schedule I or H

[MBCarey]

We have a new plan effective 3/1/2008. This will be the first 5500 filed. 12/31/2008 the participant count was 216, but since it is a new plan there were no participants on the first day. Correct? There is an audit being doing, but should we be filing a Schedule I or H. Relius 5500 software keeps giving me an error when I try to file an I. I just assumed since the company is doing an audit, it would require the more detailed schedule.

Thanks

[WDIK]

A new plan can have participants on the effective date, depending on eligibility requirements and entry dates.

[MBCarey]

I did not think about that. You would be correct since all the (or at least most) of the participants were eligible when the plan began on 3/1.

Thanks

[Bill Presson]

I did not think about that. You would be correct since all the (or at least most) of the participants were eligible when the plan began on 3/1.

Thanks

Remember that the number of eligible participants on 3/1 is what determines whether an audit needs to be done or not. The 12/31/09 participant count is irrelevant.