-12- General Instructions to Form 5500
regulated, supervised, and subject to periodic examination by a
state or federal agency in the case of a CCT, or by a state
agency in the case of a PSA, for the collective investment and
reinvestment of assets contributed thereto from employee
benefit plans maintained by more than one employer or
controlled group of corporations as that term is used in Code
section 1563. See 29 CFR 2520.103-3, 103-4, 103-5, and
103-9.
Note. For reporting purposes, a separate account that is not
considered to be holding plan assets pursuant to 29 CFR
2510.3-101(h)(1)(iii) does not constitute a pooled separate
account.
The Form 5500 submitted for a CCT or PSA must comply
with the Form 5500 instructions for a Large Pension Plan,
unless otherwise specified in the forms and instructions.
The CCT or PSA must file:
1. Form 5500, except lines C, D, 1c, 2d, and 5 through 9.
Enter ‘‘C’’ or ‘‘P,’’ as appropriate, in Part I, line A, as the DFE
code.
2.
Schedule D, to list all CCTs, PSAs, MTIAs, and
103-12 IEs in which the CCT or PSA invested at any time
during the CCT or PSA year and to list in Part II all plans that
participated in the CCT or PSA during its year.
3. Schedule H, except lines 1b(1), 1b(2), 1c(8), 1d, 1e, 1g,
1h, 1i, 2a, 2b(1)(E), 2e, 2f, and 2g, to report financial
information. Part IV and an accountant’s (IQPA’s) opinion are
not required for a CCT or PSA.
Different requirements apply to the Schedules D and H
attached to the Form 5500 filed by plans and DFEs
participating in CCTs and PSAs, depending upon whether a
DFE Form 5500 has been filed for the CCT or PSA. See the
instructions for these schedules.
103-12 Investment Entity (103-12 IE)
DOL Regulation 2520.103-12 provides an alternative method
of reporting for plans that invest in an entity (other than an
MTIA, CCT, or PSA), whose underlying assets include ‘‘plan
assets’’ within the meaning of 29 CFR 2510.3-101 of two or
more plans that are not members of a ‘‘related group’’ of
employee benefit plans. Such an entity for which a Form 5500
is filed constitutes a ‘‘103-12 IE.’’ A Form 5500 is not required
to be filed for such entities; however, filing a Form 5500 as a
103-12 IE provides certain reporting relief, including the
limitation of the examination and report of the independent
qualified public accountant (IQPA) provided by 29 CFR
2520.103-12(d), to participating plans and DFEs. For this
reporting purpose, a ‘‘related group’’ of employee benefit plans
consists of each group of two or more employee benefit plans
(1) each of which receives 10% or more of its aggregate
contributions from the same employer or from a member of the
same controlled group of corporations (as determined under
Code section 1563(a), without regard to Code section
1563(a)(4) thereof); or (2) each of which is either maintained
by, or maintained pursuant to a collective-bargaining
agreement negotiated by, the same employee organization or
affiliated employee organizations. For purposes of this
paragraph, an ‘‘affiliate’’ of an employee organization means
any person controlling, controlled by, or under common control
with such organization. See 29 CFR 2520.103-12.
The Form 5500 submitted for a 103-12 IE must comply with
the Form 5500 instructions for a Large Pension Plan, unless
otherwise specified in the forms and instructions. The 103-12
IE must file:
1. Form 5500, except lines C, D, 1c, 2d, and 5 through 9.
Enter ‘‘E’’ in part I, line A, as the DFE code.
2. Schedule A (as many as needed), to report insurance,
annuity and investment contracts held by the 103-12 IE.
3. Schedule C, if applicable, to report service provider
information and any terminated accountants.
4. Schedule D, to list all CCTs, PSAs, and 103-12 IEs in
which the 103-12 IE invested at any time during the
103-12 IE’s year, and to list all plans that participated in the
103-12 IE during its year.
5. Schedule G, to report loans or fixed income obligations in
default or determined to be uncollectible as of the end of the
103-12 IE year, leases in default or classified as uncollectible,
and nonexempt transactions.
6. Schedule H, except lines 1b(1), 1b(2), 1c(8), 1d, 1e, 1g,
1h, 1i, 2a, 2b(1)(E), 2e, 2f, 2g, 4a, 4e, 4f, 4g, 4h, 4j, 4k, 4l, 4m,
4n, and 5, to report financial information.
7. Additional information required by the instructions to the
above schedules, including, for example, the report of the
independent qualified public accountant (IQPA) identified on
Schedule H, line 3a, and the schedule(s) of assets held for
investment. All attachments must be properly labeled.
Defined Contribution Group Reporting
Arrangements (DCGs or DCG Reporting
Arrangements)
Each defined contribution pension plan that reports as part of a
DCG reporting arrangement is not required to file a separate
Form 5500 if a consolidated Form 5500 report for all the plans
in the DCG is filed by the common plan administrator of the
plans in accordance with 29 CFR 2510.103-14 and 29 CFR
2520.104-51, including a Schedule DCG for each participating
plan.
For reporting purposes, an arrangement is a DCG reporting
arrangement only if all plans in a DCG:
1. are individual account plans or defined contribution plans;
2. have the same trustee as described in ERISA section
403(a) (“common trustee”);
3. have the same one or more named fiduciaries designated
in accordance with ERISA section 402(a) (“common
fiduciaries”), however an individual employer may be a named
fiduciary of each employer’s own plan provided that the other
named fiduciaries are the same and common to all plans;
4. have a designated plan administrator under ERISA
section 3(16)(A) that is the same plan administrator for all the
plans in the DCG (“common plan administrator”);
5. have plan years beginning on the same date (“common
plan year”);
6. provide the same investments or investment options to
participants and beneficiaries in all the plans (“common
investments or common investment options”). Certain
brokerage window arrangements would qualify as a common
investment option. See 29 CFR 2520.104-51(c)(3)(ii);
7. do not hold any employer securities at any time during the
plan year, except this does not prohibit investments in any
employer’s publicly traded securities within one of the
“common investments or investment options” available to
participants and beneficiaries in all the plans;
8. either obtain an audit by an IQPA and file the IQPA report
with the DCG consolidated Form 5500, or be eligible for the
waiver of the annual examination and report of an IQPA under
29 CFR 2520.104-46; and
9. not be a MEP (including a pooled employer plan) or a
multiemployer plan.
The Form 5500 submitted for the DCG must comply with the
Form 5500 instructions for a Large Pension Plan, unless
otherwise specified in the forms and instructions. The DCG
must file:
1. Form 5500, except lines C, 2d and 7. Enter ‘‘D’’ in Part I,
line A, as the DFE code for the DCG.
2. Schedule A (as many as needed) to report insurance,
annuity, and investment contracts held by the plans