FAQ 1030: AFTAP - How to get the AFTAP Certification to include Category A (unpaid minimum) contributions deposited after the EOY valuation date

Problem: How can I get the AFTAP Certification report to include Category A (unpaid minimum) contributions deposited after the EOY valuation date?

Solution: Category A contributions are contributions allocated to unpaid minimum required contributions from prior plan years. To avoid having to go back and make changes to your valuation, you may wish to make a copy of your ongoing valuation case prior to preparing the AFTAP Certification report. Enter all contributions, including all Category A contributions, on the Specifications\Costs\PLANCNTB screen. Category A contributions deposited after the EOY valuation date will not be included in the AFTAP Certification. In order to include them for AFTAP purposes you will need to add a duplicate contribution with the Code C. Go to Calculations>Actuarial>Quarterly Interest... and run the quarterly calculations, selecting the necessary reports. The duplicate contribution with Code C will be discounted with the current year effective rate to the EOY valuation date and stored in Plan Specifications\Costs\CONTRIB\Quarterly Int/Rcvbl Contribution. The value stored here will be the discounted value of the receivable contributions calculated without the additional 5% interest that may apply to late contributions for plans with required quarterly payments. When you print the AFTAP Certification report, the discounted value of the unpaid minimum required contribution that was deposited after the EOY valuation date will now be included in Line 5 - Discounted Contributions made after the Valuation Date. If you did not make a copy of the ongoing valuation, you will need to go back and remove the duplicate contributions (coded with a Plan Cntb Categ of C) from the PLANCNTB screen and run the quarterly calculations again, selecting the necessary reports.