What financial reports are required by ERISA?
• ERISA requires a statement of assets and liabilities and a statement of changes in net assets available for benefits. Large plans are also generally required to attach a report from an independent qualified public accountant. (See ERISA section 103(a)(3)(A)) • The Schedules required by ERISA, if applicable, include Schedule H, line 4i – Schedule of Assets (Held at End of Year) and Schedule of Assets (Acquired and Disposed of Within Year), Schedule H, line 4j – Schedule of Reportable Transactions, Schedule G, Part I – Schedule of Loans or Fixed-Income Obligations in Default or classified as Uncollectable, Schedule G, Part II – Schedule of Leases in Default or classified as Uncollectable, and Schedule G, Part III – Nonexempt Transactions.
Related Questions
- We are considering using International Financial Reporting Standards (IFRS) for our consolidated reports. Can XBRL GL be helpful in migrating to that standard?
- Are there any best practices describing what church financial reports should look like or be formatted?
- What is the basis for the preparation of Zenith Banks financial reports?
