2008 SB, Line 23

[Effen]

How are people completing Line 23 of the 2008 SB if they are using 417(e) mortality as required under 1.430(d)-1(f)(4)(iii)?

For most plans that pay lump sums, 1.430 requires you to use the appliciable 417(e) mortality table to determine the funding target. This option doens't fit with any available options under line 23.

Our thought is to check the "prescribed" box, but add a footnote that we are using the table prescribed under 1.430(d)-1(f)(4)(iii).

Anyone have a different opinion?

[Andy the Actuary]

Until guidance to the contrary is issued, I'd check line 23 box prescribed and have the assumptions described in the attachment.

I'm presuming the IRS does not save these forms once scanned or otherwise entered so I would opt for attachment rather than footnote.

[mwyatt]

This goes to a good point: any consensus on what exactly needs to be attached to the Schedule SB?

[Andy the Actuary]

Valuation methods and procedures

Actuarial assumptions

plan provisions summary

Age/service distribution (if applicable)

Ex-wife