AimPoint Pension
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Regional Vice President of Sales The Retirement Plan Company
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Loan & Distribution Specialist AimPoint Pension
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Compass
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Bates & Company, Inc.
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Defined Benefit Combo Cash Balance Compliance Consultant Loren D. Stark Company (LDSCO)
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403(b) Policy Loans: A Continuing Form 5500 Reporting Problem
Business of Benefits July 15, 2016 "[No] cash for the loan has ever come out of the plan itself.... The reserve amount in the annuity contract related to the policy loan still shows up as an invested asset under the contract (typically reported under line 1(c)(14)). If you actually then report the amount of the outstanding 'policy loans' on line 1(c)(8), the result is a double-counting of the loan amount as an asset, and your books will be sorely out of balance." |
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