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Santa Ana California Form 5500 - Schedule H: What You Should Know

Because the line21 entries on Schedule H are more precise and directly report the payment ratio between actual cash expenditures on PGC and annual cash premium payments, the proposed change in the 2023 annual cash premium payment amounts will result in the  SPARK Letter to BSA explaining the need to include Line 21 of the Schedule h on the required Form 5500 and urging the BSA to change  Line 21 in the 2023 & subsequent years to reflect the change to only include cash expenditures on PGC, which will more accurately reflect what participants actually pay on their  premiums. In particular, the proposed changes from 2023 to 2023 and the 2023 and subsequent changes would result in the following  in addition to the changes listed above: a. The amount in the “annual cash payment” line on Schedule H would have been more accurate, had it been reported directly on the form; b. A significant majority of participants would have reported in the amount of cash expenditures listed under “annual cash payment” on Line 21 (up to 90 percent); and c. The amount of premium payments received under the line 21 entries on the Form Five500 would have been less, due to the correction of the information on line 21 related to the payment ratio between actual cash expenditures and annual  premium payments. SPARK Comment Letter | U.S. Department of Labor on Changes to Form 5500 SPARK Comment Letter to BSA on Proposed Changes to Form 5500 | U.S.

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