5500-SF (with loans from 2008)

[PainPA]

can someone verify the abilyt to file a 5500-SF for 2009 even if the plan answered YES to loans on the 2008 Schedule line 3f

Asssume the plan(s) are with John Hancock and not a money purchase plan.

a colleague point to the 5500 preparers manual as stating (PRACTICE POINTER) that if you answered YES and entered an amount on line 3f (participant loans) of the 2008 Schedulke I, it most likely does not meet the requirements for the simplified reporting.

Any one have a clarification/comment on that?

[TPAMan]

In the DOL Instructions for Form 5500-SF, Item 3 of Who May File lists participant loans as an example of eligble assets. That's all I needed to know to file a ton of SFs for 401(k) plans with loans.

[Guest AHS527]

SF contains a question asking for $ of loans at end of year so not sure why there would be a reason you could not file a SF for plans with loans??

[PainPA]

that what I thought.... why ask it on the form... if it is not a qualifying asset it is not elgiible to file an SF before it become a loan.

just questioning myself finishing off the SF's becuase I read it in a book