pmacduff Posted March 24, 2016 Posted March 24, 2016 Ok - I know this has more than likely been asked/answered but I haven't found the thread(s)... TPA direct compensation is reported on both the Schedule H and the Schedule A. Does that also need to be reported on the Schedule C if it is over $5,000? I thought not at first but rereading the instructions for Schedule C it states in part, "Persons whose only compensation in relation to the plan consists of insurance fees or commissions listed in a Schedule A filed for the plan" do not have to be reported again on Sch C. I think I'm getting tripped up because these are admin fees and not "insurance fees or commissions". Thanks in advance for any comments....
My 2 cents Posted March 24, 2016 Posted March 24, 2016 If not explicitly of the kind of expense exempted from Schedule C reporting, what could go wrong if the fees were reported on Schedule C? Always check with your actuary first!
pmacduff Posted March 28, 2016 Author Posted March 28, 2016 Thanks My 2 - my inclination was to put them on there. This plan has a very particular accounting firm that does the annual audit for the Schedule H and I wanted to be sure I was putting the information in all the correct places. I suppose more reporting is better than less reporting.
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