DOL EFAST Help Line
1-866-463-3278
The toll-free DOL EFAST Help Line provides a variety of assistance to plan filers
AICPA Accounting & Auditing Technical Hotline
1-888-777-7077 (option 5 followed by option 3)
Q. Should the benefits paid per the statement of changes in net assets available for plan benefits agree to the benefits paid in the statement of changes in accumulated plan benefits for a defined benefit pension plan? A. The benefits paid should be the same on both statements. If differences are noted, the issue should be resolved with the actuary to determine whether payments recorded by the plan or used by the actuary requires adjustment. Q. Is the schedule of 5 percent reportable transactions required for defined benefit plans? A. As defined benefit plans generally are not participant-directed, the reportable transactions schedule would be required.
Q.
Should the benefits paid per the statement of changes in net assets available for plan benefits agree to the benefits paid in the statement of changes in accumulated plan benefits for a defined benefit pension plan?
A.
The benefits paid should be the same on both statements. If differences are noted, the issue should be resolved with the actuary to determine whether payments recorded by the plan or used by the actuary requires adjustment.
Is the schedule of 5 percent reportable transactions required for defined benefit plans?
As defined benefit plans generally are not participant-directed, the reportable transactions schedule would be required.