Schedule H and assets transferred to PBGC

[Guest ATurn]

Hi, All - My plan was terminated by the PBGC in 2013, and all assets were transferred back to the PBGC at the time of termination. I have categorized the assets as a transfer from the plan, but I get an error message when trying to file the Schedule H with the transfer of assets since I do not have a plan EIN for a transferee plan. I have spoken with the IRS, who tells me to check with the PBGC (for a 5500 instruction??). The PBGC basically laughed at me, as expected, since this pertains to the 5500. No answer from either of them. Has anyone had to file a 5500 Schedule H for a plan terminated by the PBGC? If so, how did you categorize the transfer of assets to the PBGC? Thanks!

[david rigby]

Perhaps you could abandon this effort to focus on "transfer"? The instructions for Line 5b concern "...assets and/or liabilities transferred from this plan to another plan(s)..."

The PBGC is not a "plan".

[Guest ATurn]

I agree there is nothing to list on item 5(b). That leaves me with the problem of how to itemize assets that left the plan on the reconciliation section of the H.

[Lou S.]

I would simply report them on e(2) {if you treat the PBGC as an insurance company} or e(3) {Other - type in PBGC} as payments to provide benefits.