Do I have to file a 5500 for 6 cents?

[Jim Chad]

All but 6 cents was distributed in 2014. I s there a deminimus or do I have to file 5500?

[My 2 cents]

Is there an interesting story as to why 6 cents were left behind? Just wondering.

[Peter Gulia]

The administrator's plan for what to do with the $0.06 might lead you to an answer about whether a report on a 2015 plan year is needed, or whether the report on 2014 can be the final report.

[Jim Chad]

Individual brokerage accounts with 4 cents left in one person's account, and a penny left in 2 others. ALL this money has been rolled to their respective IRA's. (please excuse the sarcasm)

[Lou S.]

Does the 5500 even allow cents? Would $0.06 round down to $0?

[Bird]

While we generally reconcile accounts to the penny, I would round this for 5500 reporting.

[Jim Chad]

Round it to Zero or 1 dollar? And would you file a 5500 for 2015?

[My 2 cents]

Unless one is specifically rounding up, 6 cents -> $0. If you show a zero balance as of 12/31/14 and nothing happens (and, surely, the 6 cents won't be there for long, right?), what would you show on a 2015 5500? Zero at start, zero at end, no participants at beginning or end, nothing shown as paid, etc.? Or are you going to report $0 assets and 3 participants as of 12/31/14?

[Bird]

To $0, and I would not file a 5500. We sometimes get statements for a few pennies that carry on for months or even years.

[Earl]

I would not file in this lifetime.

[Jim Chad]

Thank you everyone.