Reporting Delinquent Employee Contribtuions

[Guest Esquire]

I have a client whose 11/30/99 contributions were not deposited until 1/15/2000.

1) Are the penalties and interest owed on the contributions to be added to the amount of actual contributions, reportable as "Current Value of Asset" in Part III of the Schedule G of the Form 5500?

2) Is it correct that the client is only required to file one Form 5330 in year 2000 for the amount of interest owed on the 11/30/99 contributions?

[Kirk Maldonado]

What are these "penalities" that are payable to the plan?

[Guest Esquire]

Originally posted by Kirk Maldonado

What are these "penalities" that are payable to the plan?

To clarify, the penalties referred to in the question are penalties payable to the IRS on the Form 5330 - not payable to the Plan.