Filing Amended Form 5500-SF

[DPSRich]

Situation is Plan terminated in 2010 and final 5500-SF filed for 2011 (January 2012) after supposedly all assets, including insurance contract cash values were distributed. Insurance agent who provided us with the information that everything was paid out, calls us beginning of June and informs us that there was one additional life insurance policy still in force in the name of the Plan. Kicker is the insured is now deceased and there is a $500,000. death benefit to be paid.

Questions are:

1- We presume that we have to file an amended 5500-SF for 2011? If so, do we just show the assets as the 12/31/11 cash value or the cash surrender value?

2- If the presumption is correct for 2011, then we would do the same for 2012, using the 12/31/12 cash value or surrender value?

3- For 2013, there will be a $500,000. payment to the beneficiary (wife), how do we account for the increase in value? Should we just show the cash surrender value as the distributable amount?

Any help in this matter will be greatly appreciated!!!

Thank you.

DPS Rich