Jakyasar Posted September 13, 2022 Posted September 13, 2022 Hi XYZ DB plan is terminated with overfunded assets (100k). All participants elected to rollover their distributions to XYZ PS Plan. Total was 1M The overfunded portion was deposited into the XYZ PS plan (under qualified replacement plan rules - QRP) as excess DB assets to be allocated in the future. In preparing the final 5500 form (2021 plan year) for the DB plan, I am confused by 2 lines: 8j and 13c Are any of the above assets considered as transfers? I do not believe the participant rollovers of 1M are (they were directly deposited into the DC plan accounts from the DB plan but as rollovers) How about the QRP portion of 100k as also was directly deposited into the DC plan account from the DB plan account. Thank you
Popular Post Bri Posted September 13, 2022 Popular Post Posted September 13, 2022 Only the excess transferred over is a "real" transfer for lines 8j and 13 purposes. The rollovers are treated like you'd do for normal 5500 stuff, on the benefit payments value line 8d. Look at it as, you're presenting the financial summary, all the gains and payouts and contributions net to the final 100K, and you show that as a transfer out on 8j so that the assets balance to zero. Then on 13c you show where that 100k went. Luke Bailey, Bird, CuseFan and 2 others 5
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