Form 5500 Schedule H Income

[Andy the Actuary]

Speaking only for myself, there is no exercise more worthless than the time spent attempting to place information from unfriendly asset statement(s) into the correct bucket. In fact, the only one who seems to look at and question this stuff is the auditor.

In particular, sometimes determining the the basis/proceeds for realized appreciation can be a nightmare. This is particularly exasperating when during the year the plan sponsor switched investment managers and the basis as of the date of switch is lost or mistracked.

I have typically indicated that I am an actuary and not a trust accountant and that I would accept whatever their auditor comes up with, which sort of thwarts the audit process. How have practitioners proceeded, for example, when they simply cannot identify the cost and proceeds basis?