Instructions For Schedule B (Form 5500) - Actuarial Information

Department of the Treasury

Department of Labor

Pension Benefit

Internal Revenue Service

Employee Benefits

Guaranty Corporation

Security Administration

2006

Instructions for

Schedule B (Form 5500)

Actuarial Information

All defined benefit plans, regardless of size or type, must

Code section references are to the Internal Revenue Code

complete and file Part I. Part II must be filed for all plans other

unless otherwise noted. ERISA refers to the Employee

than those specified in 1 and 2 below:

Retirement Income Security Act of 1974.

1. Part II should not be filed for multiemployer plans for

General Instructions

which box 1 in line E is checked.

2. Part II should not be filed for plans that have 100 or fewer

Who Must File

participants in the prior plan year as described above.

The employer or plan administrator of a defined benefit plan

In addition, please note that “TRA ’97” refers to the Taxpayer

that is subject to the minimum funding standards (see Code

Relief Act of 1997 and “RPA ’94” refers to the Retirement

section 412 and Part 3 of Title I of ERISA) must complete this

Protection Act of 1994.

schedule as an attachment to the Form 5500.

Note. (1) For split-funded plans, the costs and contributions

Note. The Schedule B does not have to be filed with the Form

reported on Schedule B should include those relating to both

5500-EZ (in accordance with the instructions for Form 5500-EZ

trust funds and insurance carriers. (2) For plans with funding

under the “What To File” section); however, the funding

standard account amortization charges and credits see the

standard account for the plan must continue to be maintained,

instructions for lines 9c, 9j, and 12j, as applicable, regarding

even if the Schedule B is not filed.

attachment. (3) For terminating plans, Rev. Rul. 79-237, 1979-2

C.B. 190, provides that minimum funding standards apply until

If a money purchase defined contribution plan (including a

the end of the plan year that includes the termination date.

target benefit plan) has received a waiver of the minimum

Accordingly, the Schedule B is not required to be filed for any

funding standard, and the waiver is currently being amortized,

later plan year. However, if a termination fails to occur —

lines 3, 9, and 10 of Schedule B must be completed. The

whether because assets remain in the plan’s related trust (see

Schedule B must be attached to Form 5500 but it need not be

Rev. Rul. 89-87, 1989-2 C.B. 81) or for any other reason (e.g.,

signed by an enrolled actuary.

the PBGC issues a notice of noncompliance pursuant to 29

CFR section 4041.31 for a standard termination) — there is no

Check the Schedule B box on the Form 5500 (Part II, line

termination date, and therefore, minimum funding standards

10a(2)) if a Schedule B is attached to the Form 5500.

continue to apply and a Schedule B continues to be required.

Lines A through E and G (most recent enrollment number)

(4) The Pension Protection Act of 2006 provides funding relief

must be completed for ALL plans. If the Schedule B is attached

for certain defined benefit plans (other than multiemployer

to a Form 5500, lines A, B, C, and D should include the same

plans) maintained by a commercial passenger airline or by an

information as reported in Part II of the Form 5500. You may

employer whose principal business is providing catering

abbreviate the plan name (if necessary) to fit in the space

services to a commercial passenger airline, based on an

provided.

alternative 17-year funding schedule. For plans utilizing this

relief, please see the Special Instructions on page 9.

Do not use a social security number in line D in lieu of an

EIN. The Schedule B and its attachments are open to public

Statement by Enrolled Actuary

inspection if filed with a Form 5500, and the contents are public

An enrolled actuary must sign Schedule B. The signature of the

information and are subject to publication on the Internet.

enrolled actuary may be qualified to state that it is subject to

Because of privacy concerns, the inclusion of a social security

attached qualifications. See Treasury Regulation section

number on this Schedule B or any of its attachments may result

301.6059-1(d) for permitted qualifications. If the actuary has not

in the rejection of the filing.

fully reflected any final or temporary regulation, revenue ruling,

or notice promulgated under the statute in completing the

EINs may be obtained by applying for one on Form SS-4,

Schedule B, check the box on the last line of page 1. If this box

Application for Employer Identification Number, as soon as

is checked, indicate on an attachment whether an accumulated

possible. You can obtain Form SS-4 by calling

funding deficiency or a contribution that is not wholly deductible

1-800-TAX-FORM (1-800-829-3676) or at the IRS Web Site at

would result if the actuary had fully reflected such regulation,

The EBSA does not issue EINs.

revenue ruling, or notice, and label this attachment “Schedule

Check the box in line F if the plan has 100 or fewer

B – Statement by Enrolled Actuary.” A stamped or machine

participants in the prior plan year. A plan has 100 or fewer

produced signature is not acceptable. The most recent

participants in the prior plan year only if there were 100 or fewer

enrollment number must be entered in line G. In addition, the

participants (both active and nonactive) on each day of the

actuary may offer any other comments related to the

preceding plan year, taking into account participants in all

information contained in Schedule B.

defined benefit plans maintained by the same employer (or any

Attachments

member of such employer’s controlled group) who are also

employees of that employer or member. For this purpose,

All attachments to the Schedule B must be properly identified,

participants who are solely members of a multiemployer plan

and must include the name of the plan, plan sponsor’s EIN, and

are not counted. Nonactive participants include vested

plan number. Put “Schedule B” and the line item to which the

terminated and retired employees.

schedule relates at the top of each attachment. When

Cat. No. 13513I

Instructions For Schedule B (Form 5500) - Actuarial Information - 2006 Page 3

Related Articles

Related forms

Related Categories