This is the first year that I've had to file a 5500 for a large plan (lucky me). I've helped with them in the past but never had to complete one on my own. I got through most of the financial info on the Schedule H but have now come to questions 4i and 4j (Part IV) and am not sure how to proceed.

What exactly does the DOL want for the "Schedule of Assets"? Is this something filed for every large plan? I have reviewed the instructions and they don't seem to make any sense to me. Do I just create a spreadsheet with a list of all their investments (w/info specified in instructions- i.e. Identity of Issue, Description of Investment, Cost & Current Value)? Or would the auditor take care of any of this? I can't seem to find a copy of a spreadsheet in past files and the person who used to do them is gone on not-so-great terms and probably wouldn't be much help.

Regarding the 5% of current value transactions... what is current value? Also, if the plan decided to move from one investment to another, that is still considered a "transaction"? It seems like a lot of extra work to me.

Thanks,

Rachel

I agree that the instructions could be more clear and that it is a lot of extra work. Is this surprising considering the source?

The phrase assets held for investment confused me for a long time, because it sounded like it meant monies waiting to be invested. It actually refers to assets invested (with a few exceptions enumerated on page 41 of the 2002 Form 5500 booklet).

It is required for all large plans that have assets held for investment purposes. Your spreadsheet approach seems good. Follow the headings in the instructions.

With regard to 5% of current value, the 5% figure is determined by comparing the current value of the transaction at the transaction date with the current value of the plan assets at the beginning of the plan year. (Use the end of year value for the initail plan year.)

Hope this is helpful. Good luck.