FAQ 123: 5500 Information report counts and support pages for 5500 counts

Problem:

Is there a way to print a support page for the 5500 Information Report that details which participants are included in which numbers? For example, if the report says that there is 1 participant who terminated <100% vested, is there a support page I can print that will tell me who?


Solution:

Update: Users can select the "Print Participant Support Page" option under Utilities - Export 5500 screen for participants included in 5500/SF counts. This option is available after loading the 2015 Fall Release Update. The INFO5500 Reporter report and INFO5500 Supporting grids will be phased out, so users should start to use the 5500 export routine if they are not already. For any users that are still using the INFO5500 report or grids, an explanation of how those counts are derived is below.

There is no support page print option for the 5500 information report. However we do have a grid you can use (email support and ask for this grid). The following is an explanation of how participants are currently categorized on the report. Any participants that do not meet ALL of the requirements will be excluded from the particular count. Make sure that you check all counts before entering the numbers on the Form 5500.

New entrants on the first day of the plan year:
- Entry date = Plan Year Begin coded in the specs
- Status code is not S, Y, W, or T or status code is E or U and they have an account balance at the beginning of the year

Active participants:
- Status codes: A, B, C, and I, or status E or U if there is no term date (or if the term date is after the Valuation Date coded in the specs) or they have an account balance at year end.

Retired/separated receiving benefits:
- Status codes: R, M, H, N, T, P, and F, or status E or U if their termination date is during the current plan year
- Total Ending Balance > 0
- Prior Years' Distributions + Prior Withdrawals + Current Withdrawals > 0

Retired or separated entitled to benefits:
- Status codes: R, M, H, N, T, P, and F, or status E or U if their termination date is during the current plan year
- Total Vested Balance > 0
- Prior Years' Distributions + Prior Withdrawals + Current Withdrawals = 0

Deceased participants with benefits:
- Status code: D
- Total Ending Balance > 0

Participants with account balances at year-end:
a) Status code: A, B, C, I, D, or status E or U if there is no term date, or if the term date is after the Valuation Date coded in the specs, and Total Ending Balance > 0, or
b) Status codes: R, M, H, N, T, P, and F, or status E or U if their termination date is during the current plan year, and Total Vested Balance > 0

Terminated during plan year less than 100% vested:
- Status code is not: S, Y or W
- Has a Termination Date
- Termination Date after or equal to the Plan Year Beginning coded in the
plan specs
- Termination Date before or equal to the Valuation Date coded in the plan
specs
- Had an account balance at some point during the plan year
- Current Primary Vesting < 100%
- Total vested balance is less than the total ending balance (to test for plans with only 100% vested money in them)