Schedule R

[nancy]

Do non-412 plans need to complete the Schedule R? It seems like all you are doing is reporting the EIN under which payments were made on line 2. There is nothing to report in Line 1 and nothing to report in Line 3. What are other preparers doing?

[Guest BDH]

As I understand the instructions, defined contribution plans that are not subject to minimum funding only attach Schedule R if benefits were distributed during the plan year. If such plans made benefit payments during the year and all benefit payments were in cash, annuity contracts issued by insurance company or publicly traded employer securities, enter -0- on line 1, EIN of payor on line 2, and leave line 3 blank.

[imchipbrown]

Whose Employer ID number do you put in Part 1, line 2? Let's say I've got the plan assets in a Schwab account. An employee leaves and gets paid out of the Schwab account. Is the payor Schwab, the employer, the trust? I can't stand this Schedule. It seems totally useless!!

[Lynn Campbell]

I have been using the Tax ID# that I would use on the 1099-R for the distribution.

[Guest Rudy]

Lynn is correct. You report the number that will be used on the 1099.