accounting for delinquent contributions & related lost earnings

[TPApril]

I'm curious:

Plan reports on an accrued basis for contributions deposited after eoy.

For delinquent contributions that are discovered at a later date in the following year and deposited prior to completion of Form 5500 for relevant year, I believe those contributions are accrued in as well.

Howabout the related lost earnings?  This is for 5500 reporting.

 

[RatherBeGolfing]

14 hours ago, TPApril said:

For delinquent contributions that are discovered at a later date in the following year and deposited prior to completion of Form 5500 for relevant year, I believe those contributions are accrued in as well.

I agree, your 5500 should reflect the contributions, not the deposits.

 

14 hours ago, TPApril said:

Howabout the related lost earnings?  This is for 5500 reporting.

I would book the earnings in the year of correction.  Otherwise you would need to split earnings over both years to be accurate, and I just don't see the point.  Just be consistent.