Form 5500 - 20% in single security

[Spencer]

When completing the Form 5500C/R, on the question that asks "Did the plan at any time hold 20% or more of its assets in any single security, debt, mortgage, etc.?", do you consider mutual funds a single security?

We have not, but a book we purchased this year re: completion of 5500's says that mutual funds should be considered a single security for the purposes of this question.

We would appreciate input from other TPA's as to how you answer this question.

[Guest Suegoetz]

Mutual funds are considered a Type III reportable transaction and you sum up the purchases and sales in the mutual fund to see if you are over the 5% or 20% beg. plan balance.

[Guest Mike Kimball]

what is a type III reportable transaction?