Schedule A and 5500 SF

[Dazednconfused]

Hi,

I have a plan that has Schedule A data, in reading the instructions for the 5500 SF I believe I can use the SF even when a plan has Sch. A info provided from insurance companies. I just enter commisions paid on line 10(e). Any thoughts or do I need to complete 5500 and schedules?

Thanks,

Jason

[chc93]

We just had this discussion in our office yesterday. Since a Schedule A is not required to be filed with the Form 5500-SF, we decided that line 10(e) will provide the commission information that was provided on the Sch A. Also, if there is more than 1 Sch A, the total commissions of all Sch A's would go on line 10(e). So, line 10(e) is now the "substitute" for the Sch A. Historically, it seemed that the commissions paid was of interest to the DOL/IRS because of the abuses of paying large commissions to "related" parties.

[pmacduff]

ok - we're all on the same thought pattern here...

we also just had this discussion in our office, but it was regarding a John Hancock plan which of course has both the Schedule A and Schedule D.

Would you still agree that a 5500-SF can be used or should it be the 5500? I noted that when I did my carry forward if I change the form type from 5500 to 5500-SF then I have to go in and delete the Sch A & D (and any others not applicable for SF) before I can even open/access the 5500-SF form.

This should be fun............

[chc93]

we also just had this discussion in our office, but it was regarding a John Hancock plan which of course has both the Schedule A and Schedule D.

Would you still agree that a 5500-SF can be used or should it be the 5500?

This should be fun............

I think the 5500-SF can still be filed. The 5500-SF does not need any additional schedules. For example, for a plan that only has common collective trusts, the 5500-SF can be used without worry about the Schedule D. So, it seems like you report the "Schedule A" stuff on the 5500-SF, and forget the "Schedule D" stuff. That's what I intend to do for now...