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Posted

An active employee had their loan balance deemed because it was not paid off within 5 years. However, the employee continued to pay off the loan after it was deemed.

How is this reported on the 5500?

Does it get reported under deemed and or corrective distributions?

Posted

It's included on the 5500, pretty much as if it hadn't defaulted. I don't remember all of the details but I think the instructions are pretty clear.

Ed Snyder

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