1.401(a)-11(g)

[jpod]

Calendar year plan year; files 5500 on accrual basis. Sponsor adopts an 11(g) corrective amendment in 2011 effective for 2010. Corrective amendment calls for an additional employer contribution for 2010, which was made. But for corrective amendment, no such contribution would be due, but plan would be at risk for disqualification. Should this be reported as a receivable on Schedule H as of 12/31/10 and/or as a matter of GAAP?

[Bill Presson]

Calendar year plan year; files 5500 on accrual basis. Sponsor adopts an 11(g) corrective amendment in 2011 effective for 2010. Corrective amendment calls for an additional employer contribution for 2010, which was made. But for corrective amendment, no such contribution would be due, but plan would be at risk for disqualification. Should this be reported as a receivable on Schedule H as of 12/31/10 and/or as a matter of GAAP?

If I was preparing the 5500 on an accrual basis, I would report it. If I was preparing the 5500 on a cash basis (which we do for the vast majority of our returns), I would not report it.