Producing Form 5500 Participant Counts
Pension status codes, along with vesting percentages, determine how participants are reported on Form 5500. Run periodic processing to update the pension status codes and vesting percentages before running the PASPC01 - Form 5500 Participant Count Report.
The following table indicates how status codes map to Form 5500 line numbers:
|
Code |
Form 5500 Item 7 |
Additional Logic or Conditions |
|---|---|---|
|
APR, AVS, ANS, A70 |
(a) 1 |
If vested percentage is 100. |
|
APR, AVS, ANS |
(a) 2 |
If vested percentage is greater than 0 and less than 100. |
|
APR, AVS, ANS |
(a) 3 |
If vested percentage is 0. |
|
TNV |
(h) |
If terminated during the reporting year. |
|
TDF |
(c) |
|
|
TDF, TST, TPY, RDF, RPY |
(h) |
If terminated during the reporting year and vested percentage is less than 100. |
|
TPY |
(b) |
|
|
RDF |
(c) |
|
|
RST |
Not included |
|
|
RPY |
(b) |
|
|
XBP |
(e) |
|
|
XNB |
Not included |
|
|
DDF |
(c) |
|
|
DST |
Not included |
|
|
DPY |
(b) |
|
|
BDF |
(e) |
|
|
BST |
Not included |
|
|
BPY |
(e) |
|
The following table indicates how the Form 5500 line numbers map to pension codes:
|
Form 5500 Item 7 |
Code |
Additional Logic or Conditions |
|---|---|---|
|
(a) 1 |
APR, AVS, ANS, A70 |
If vested percentage is 100. |
|
(a) 2 |
APR, AVS, ANS |
If vested percentage is greater than 0 and less than 100. |
|
(a) 3 |
APR, AVS, ANS |
If vested percentage is 0. |
|
(b) |
TPY, RPY, DPY |
|
|
(c) |
TDF, RDF, DDF |
|
|
(e) |
BDF, BPY, XBP |
|
|
(h) |
TNV TDF, TST, TPY, RDF, RPY |
If terminated during the reporting year. If terminated during the reporting year and vested percentage is less than 1.00 |
Participants who terminated or retired during the reporting year with a vested percentage of less than 100 might be counted twice. The second occurrence is on line (h). This is acceptable because this line item is not part of the total participant count; it warns the IRS of a possible partial plan termination.
You must perform the count for row (i) separately. This row contains participants who have pension status codes TDF, RBP, XDF, and DDF, who terminated in the current 5500 reporting year, and who have not been paid (either completely or in part) by the due date for filing Form 5500.
QDRO recipients who are not otherwise participants in their own right are not included.
Active participants who are older than 70 and are receiving payments are presumed to be 100 percent vested. In order to avoid counting them twice, they are counted as active (and not receiving payments) for 5500 reporting purposes.