Schedule MB - item 8e

[Effen]

Item 8e on the Schedule MB asks for the “difference between the minimum required contributions” with and without the amortization extension. I have a client, who took an amortization extension, however the “minimum required contribution” was zero before and after the amortization extension was recognized (due to large credit balance) and therefore the difference is also zero.

There are no instructions for this line item so we can’t really tell what the IRS intended, but since they asked for the difference in the “minimum required contribution” and not the difference in the charges to the funding standard account, I think the answer would be zero.

However, zero seems to be generating an error from EFAST when you try to submit the forms.

Has anyone else encountered this problem?

[keller226]

I have the exact same situation and cannot locate an answer. Can anyone shed some light on this scenario?

[Effen]

I recognize I am responding to my own question, but I put the difference in the amortization charges on that line, even if the MRC is $0 before and after the extension. I don't recall any formal IRS guidance, but I probably talked with people from other firms to get some consensus.

I think you could properly answer $0 because the question asks about the MRC, but I don't think that is really what they are looking for.

[keller226]

Thanks again, Effen!

[Laurence Oman]

I have the same situation...