Line 5 contains the name of a tax preparer, if one is used. Not all tax preparers are CPAs who provide high-level advice on plans and their features. But since some are, you should note the preparer's name in your notes, and ask during fact-finding if the preparer provides plan-related advice or services.

Schedule A

This schedule is filed by plans funded by insurance contracts. Line 2 of Part I often identifies an insurance agent or broker to whom commissions or fees have been paid. This may be a potential competitor, but don't assume that's the case without probing. It could also be an advice-giver whose buy-in you will need.

Schedule B

This Actuarial Schedule is required of defined benefit plans and other plans that accrue future liabilities or cross-test for future benefits. The statement is signed by an enrolled actuary, a professional enrolled with the IRS to perform these calculations. Note whether the actuary's address is local (in the same area) or not. A local actuary is more likely to provide other types of technical advice than one working more distant. Whether or not the actuary is a decision-maker, this can be a valuable person to know for purposes of obtaining information (with the sponsor's permission) and assistance in plan conversions.

Schedule C

This schedule lists Service Provider Information, including fees and commissions paid and the nature of services rendered. It is only available for a small percentage of plans in the FreeERISA data base.

Schedule H

This schedule, containing detailed financial information about the plan's assets and liabilities, is not required of most filers in the data base. In some cases, it discloses the name of the plan's CPA under Part III, Accountant's Opinion.

Schedule P

This schedule is the Annual Return of the Fiduciary of the Employee Benefit Trust, which holds plan assets. It technically is not filed by the plan sponsor or administrator but rather by the trustee or custodian of the trust. The name of that individual can be found on line 1a, and that person's address is on lines 1b and 1c. If you find that the administrator and trustee/custodian are different people, consider both as possible decision-makers. The administrator may hold sway over the plan's design, recordkeeping system, compliance, and cost issues. The trustee/custodian may have responsibility for investment-related matters and also is technically responsible for making distributions.

Instant Insights /

Using FreeERISA.com to Identify Plan Decision-Makers

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