hunter001 Posted August 26, 2011 Posted August 26, 2011 Can anyone recommend how to report a fidelity bond that is set to fluctuate for 10% of the plan assets up to $500,000.
Bird Posted August 26, 2011 Posted August 26, 2011 A. Just show it as 10% of assets. But, you (they) maybe are supposed to tell the company of the change in assets each year to re-set the amount (?) so that may not be 100% accurate. B. I don't think anyone (IRS or DOL) cares about that degree of precision for this purpose. Ed Snyder
hunter001 Posted August 26, 2011 Author Posted August 26, 2011 What is your opinion if we reported $500,000 as that is the max and then we would not have to figure 10% of assets from year to year.
Bird Posted August 27, 2011 Posted August 27, 2011 Um, is calculating 10% of the assets some kind of problem? Ed Snyder
austin3515 Posted August 29, 2011 Posted August 29, 2011 We've done 10% of whichever is greater, BOY assets or EOY assets. Don't even need a calculator Austin Powers, CPA, QPA, ERPA
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