PASPC01 - Form 5500 Participant Count

This SQR creates a file, pawpc01.ext, containing the participant information that is required for annual IRS reporting.

It counts participants by categories that are based on their pension statuses and vesting percentages, and provides the total number of participants to report on various lines of the Form 5500.

Periodic processing updates the pension statuses and vesting percentages. In order to produce up-to-date participant counts, you need to run periodic processing before you run PASPC01.

You run periodic processing on the Batch Periodic Process page. Select the Pension Status and Service options.

Note:

There is no vesting option on the Batch Periodic Process page. Vesting runs when you run service processing.

The following list shows how the status codes map to Form 5500 item 7.

  • APR, AVS, ANS, A70 are mapped to (a) 1, if the vesting percentage is 100.

  • APR, AVS, ANS are mapped to (a) 2, if the vesting percentage is greater than zero and less than 100.

  • APR, AVS, ANS are mapped to (a) 3, if the vesting percentage is zero.

  • TNV is mapped to (h), if terminated within the reporting year.

  • TDF is mapped to (c).

  • TDF, TST, TPY, RDF, RPY are mapped to (h) if terminated within the reporting year and the vesting percentage is less than 100.

  • TPY is mapped to (b).

  • RDF is mapped to (c).

  • RST is not included.

  • RPY is mapped to (b).

  • XBP is mapped to (e).

  • XNB is not included.

  • DDF is mapped to (c).

  • DST is not included.

  • DPY is mapped to (b).

  • BDF is mapped to (e).

  • BST is not included.

  • BPY is mapped to (e).

The following list shows how the Form 5500 line numbers map to pension codes:

  • (a) 1 is mapped to APR, AVS, ANS, A70 if the vesting percentage is 100.

  • (a) 2 is mapped to APR, AVS, ANS if the vesting percentage is greater than zero and less than 100.

  • (a) 3 is mapped to APR, AVS, ANS if the vesting percentage is zero.

  • (b) is mapped to TPY, RPY, DPY.

  • (c) is mapped to TDF, RDF, DDF.

  • (e) is mapped to BDF, BPY, XBP.

  • (h) is mapped to TNV if terminated within the reporting year.

  • (h) is mapped to TDF, TST, TPY, RDF, RPY if terminated within the reporting year and the vesting percentage is less than 100.

Participants who terminated or retired within the reporting year with a vested percentage of less than 100 may 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 simply notifies the IRS of a possible partial termination.

You must calculate the total for row (i). This total is not printed on this report. To calculate this total, add the participants with pension status codes TDF, RBP, XDF, and DDF who terminated in the current 5500 reporting year and who have not been paid out (either completely or in part) by the due date for filing Form 5500.

Note:

This is specified in IRS Form 5500 Schedule SSA for 1995, which revised the required reporting deadline.

QDRO recipients who are not otherwise participants in their own rights are not included.

Participants who are 70 or older are presumed to be 100 percent vested. For Form 5500 reporting, they are counted as active and not receiving payments, in order to avoid counting them twice.

The Form 5500 extract file includes two rows of data:

  • The first row identifies the Form 5500 line numbers: A1_COUNT, A2_COUNT, A3_COUNT, B_COUNT, C_COUNT, E_COUNT, H_COUNT.

  • The second row provides counts by line number.

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