Corrective Distributions on the SAR

[cpc0506]

Can anyone provide guidance on if corrective distributions should be reported on the Summary Annual Report?  If so, do you include them with the distribution amount or should the amount be reported some other way?

[BG5150]

Don't you have software that automatically generates one for you?

[cpc0506]

Yes, we do.  We are using Relius and it does not appear that it is picking the number up this year. 

[BG5150]

Did it used to?  I'd contact Govn't Forms if it used to and not doing it now.

TBH:  It's been a while since I verified the numbers on an SAR.  I jsut usually make sure the plan/employer's names and addresses are right...

[401king]

FWIW FTWilliam reports corrective distributions separate from other benefit payments on the SAR. 

[Kristina]

The appendix to DOL Reg. 2520.104b-10 lists the fields on the 5500 series that are reported on the SAR.  Corrective Distributions and deemed distributions are not reported.

The SAR is NOT supposed to balance.

[cpc0506]

Thanks for your response...

:)

[Bird]

15 hours ago, Kristina said:

The appendix to DOL Reg. 2520.104b-10 lists the fields on the 5500 series that are reported on the SAR.  Corrective Distributions and deemed distributions are not reported.

The SAR is NOT supposed to balance.

It's 8 am and I already learned something today, oh boy!  I can go home.  Oh wait, I am home (snow day).

But I must say, what a bizarre piece of information it is!  Imagine being the bureaucrat who makes such important decisions...

[Belgarath]

Snow hasn't made it up North yet, but depending on which forecast you get, anywhere from 6 to 20 inches. I suspect we'll be closer to a foot or so. Springtime!

Not nearly as severe as the blizzard of '78, when I was in college in the Boston area. A week without classes! But we had power, food, and plenty of beer. The best of all possible worlds, if you didn't have to work for a living... I'm not overly nostalgic about "the good old days" but that was a great week.