5500 Series Filing Guidelines

Transcription

1 5500 Series Filing Guidelines We have prepared this filing guide to help you with your IRS Form 5500 Series filing. This section presents an overview of the filing procedures. Keep in mind that these instructions are only intended to supplement the official IRS instructions for Forms 5500-EZ and Inside you will find information specific to the T. Rowe Price Money Purchase Pension and Profit Sharing Plans and the T. Rowe Price Individual 401(k) Plan. The line numbers correspond to those on the IRS forms, so you can easily refer to these guidelines when completing Form 5500-EZ or Form Finally, we have attached a sample Summary Annual Report (SAR) that you can print, complete, and distribute to plan participants. Determine which version of the 5500 you should file. Form 5500-EZ Administrators of one-participant plans (including plans that cover only owners and their spouses) should file Form 5500-EZ each year. If all plans of the employer totaled $250,000 or less at the end of the plan year beginning on or after January 1, 2007, generally you do not have to file any version of the 5500 Series forms. (Some conditions apply see page 2 of the 5500-EZ instructions.) Form 5500 Administrators of plans with participants other than owners and spouses are required to file Form 5500 each year. File any necessary schedules with your Form Schedules Refer to the specific Guidelines pages for Form 5500 to determine what schedules are required. Note: A simplified reporting option is available for eligible plans with fewer than 25 participants at the beginning of the plan year. See page 9 of the IRS 5500 instructions for details. Annual audit requirement. Regulations require that qualified plans obtain an annual audit by a qualified independent public accountant unless the plan satisfies the exemption requirements. See page 16 for information concerning the audit requirement. Complete and distribute the Summary Annual Report (SAR). Employers who file Form 5500 are required to distribute a SAR to each plan participant no later than nine months after the end of the plan year. If a filing extension has been granted, the SAR must be distributed no later than two months after the Form 5500 extended due date. This booklet contains a sample SAR that you can complete using information from the Form 5500 and distribute to plan participants. Note: If your plan meets the annual audit requirement exemption, you must include additional information in your SAR. See page 17 for details. Determine whether you need fidelity bond coverage. Unless the owner is the only participant, money purchase pension, profit sharing, and 401(k) plans must have fidelity bond coverage. A fidelity bond protects the plan from fraud committed by anyone handling plan assets. At minimum, 10% of plan assets as of the end of the prior plan year must be covered. Regardless of the amount of plan assets, no less than $1,000 and no more than $500,000 can be protected with fidelity bond coverage. If you need this coverage, contact your insurance agent. Page 1 of 19

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3 Contents 5500-EZ Guidelines for 2008 Plan Years EZ Line-by-Line Instructions Guidelines for 2008 Plan Years Line-by-Line Instructions Schedule I Financial Information Small Plan Schedule R Retirement Plan Information...12 Schedule SSA Annual Registration Statement Identifying Separated Participants With Deferred Vested Benefits...13 Fund Year-End Prices...14 Small Plan Annual Audit Waiver Provisions Summary Annual Report (Sample)...17 Your Right to Additional Information...18 Additional Information for Preparers of Summary Annual Reports...19 Page 3 of 19

4 5500-EZ Guidelines for 2008 Plan Years Who May File Form 5500-EZ (See page 2 of the IRS instructions) Who May Not Have To File (See page 2 of the IRS instructions) What If Plan Was Terminated (See page 2 of the IRS instructions) What To File (See page 2 of the IRS instructions) When To File (See page 2 of the IRS instructions) How To Request An Extension (See page 3 of the IRS instructions) Short Plan Year Requirements (See page 3 of the IRS instructions) Generally, administrators of one-participant plans (including plans that cover only owners, business partners, and their spouses) should file Form 5500-EZ each year. If participants other than owners, business partners, and spouses are included, Form 5500 must be filed. No annual filing is required for one-participant plans if the combined plan assets of all of the employer s plans totaled $250,000 or less at the end of the plan year beginning on or after January 1, (Some exceptions apply.) Refer to IRS instructions for details. Form 5500-EZ must be filed for the final plan year. One-participant plans that are required to file should file a Form 5500-EZ for each plan. Money purchase pension plans that have received a waiver of the minimum funding standard may be required to complete, but not file, a Schedule MB. The return is due by the last day of the seventh month after the end of the plan year that began in A two-and-a-half-month extension may be requested by filing Form 5558 with the IRS at the Internal Revenue Service Center, Ogden, UT An automatic extension may be granted (see page 2 of the IRS Form 5500-EZ instructions for details). New procedures are in effect for 2008 and 2009 Short Plan Year Filings. Where To File Form 5500-EZ (See page 3 of the IRS instructions) By mail: EBSA P.O. Box 7042 Lawrence, KS By private delivery service: EBSA Attn: EFAST 3833 Greenway Drive Lawrence, KS How To File (See page 3 of the IRS instructions) Penalties (See page 4 of the IRS instructions) Opinion Letter Numbers For The T. Rowe Price Prototype Plans Electronic and paper filings are available. Call TAX-FORM ( ) to order Form 5500-EZ and instructions or order online at The IRS imposes significant penalties for not filing by the due date. K272180a The Simplified Profit Sharing Plan* K272179a The Simplified Money Purchase Pension Plan* K207261a Profit Sharing Plan* K207262a Money Purchase Pension Plan* K278247a Individual 401(k) Plan * Please check your adoption agreement to determine which plan(s) you have adopted. These opinion letters are only valid if the plan was updated in 2002 or 2003 for the GUST amendments. If you have not updated your plan for GUST, please contact the IRS or a pension attorney for guidance. For detailed information, refer to the IRS Instructions for Form 5500-EZ. Page 4 of 19

5 5500-EZ Line-by-Line Instructions These line-by-line instructions are provided as a supplement to the official IRS instructions to help you complete Form 5500-EZ. Line Explanation Part I If the plan operates on a fiscal year, enter your plan year beginning and ending dates. If this Form 5500-EZ covers a shortened year, enter the applicable dates. Lines A1 A4 Check the appropriate box to indicate if this is a first return, an amended return, a final return, or a return for a short plan year. Line B Check this box if you requested (or are entitled to) an extension of time to file the return. See page 3 of the IRS Form 5500-EZ instructions and attach a copy of your federal income tax return extension request or a copy of the Form 5558 filed with the IRS. Part II, Line 1a Enter the formal name of the plan as it appears in your adoption agreement, e.g., John Smith Profit Sharing Plan. Line 1b Enter the three-digit plan number (PN). Each plan you establish has a different PN. Your first plan is 001, the second plan is 002, etc. Refer to page 5 of the IRS Form 5500-EZ instructions. Line 1c Enter the effective date of the plan. This date is generally the first day of the plan year in which the plan was originally established. Refer to the adoption agreement for the plan effective date. Signature Signature of the employer or plan administrator is required. Enter the date signed and type or print the name of the individual signing the form. Line 2a Enter the employer s name and mailing address, including room or suite number. Line 2b Enter the employer s nine-digit employer identification number (EIN). Do not enter your Social Security number. See page 6 of the IRS Form 5500-EZ instructions for information on obtaining an EIN. Line 2c Enter the employer s telephone number, including area code. Line 2d Enter the business activity code that best describes your business. Refer to pages 10 through 12 of the IRS Form 5500-EZ instructions. Line 3a Enter the name and address of the plan administrator if it is different from Part II, Line 2a. If the employer is the same as the plan administrator, enter the word same on Line 3a and leave Lines 3b and 3c blank. T. Rowe Price is not the plan administrator. Line 3b An EIN is required if the plan administrator is someone other than the employer. Refer to the instructions for Line 3b on page 6 of the IRS Form 5500-EZ instructions. Line 3c Enter the plan administrator s telephone number, including area code. Lines 4a 4c If the employer s name, address, or EIN has changed since the last Form 5500-EZ or 5500 was filed for this plan, enter the prior name in Line 4a, the prior EIN in Line 4b, and the prior three-digit PN in Line 4c. Lines 5a 5c If someone other than the employer or plan administrator completes the form, you may enter his or her name, address, EIN, and telephone number. Line 6 Check (c) if the plan is a money purchase pension plan or (d) if the plan is a profit sharing plan or 401(k) plan. You must file a separate Form 5500-EZ for each plan. Line 7a The opinion letter numbers for the T. Rowe Price prototype plans are as follows: K272180a The Simplified Profit Sharing Plan* K272179a The Simplified Money Purchase Pension Plan* K207261a Profit Sharing Plan* K207262a Money Purchase Pension Plan* K278247a Individual 401(k) Plan * Please refer to your adoption agreement to determine which plan(s) you have adopted. These opinion letters are only valid if the plan was updated in 2002 or 2003 for the GUST amendments. If you have not updated your plan for GUST, please contact the IRS or a pension attorney for guidance. Page 5 of 19

6 Line Explanation Line 7b Check box (1) if you or you and your spouse together own 100% of the unincorporated business which maintains the plan. Check box (2) if your business is a partnership. Check box (3) if you or you and your spouse together own 100% of the corporation. Line 8a Enter the total number of qualified retirement plans maintained by the employer. Line 8b Check if you have more than one plan and the combined plan assets totaled more than $250,000 at the end of the plan year beginning on or after January 1, You must file a separate Form 5500-EZ for each plan. Lines 9a 9c Enter the number of participants in each age group. Line 10a Check no in Line 10a and leave Line 10a(2) blank. Line 10b Enter the total cash contributions made or owed to the plan for 2008, including fee prepayments. (Do not include transfers or rollovers.) Line 10c Generally, this will be 0. Line 10d Enter total amount of distributions made to participants or beneficiaries, including rollovers and any loans that were deemed distributions. Refer to page 7 of the IRS Form 5500-EZ instructions. Line 10e Enter total amount of distributions of voluntary after-tax or Roth contributions. Line 10f Enter total amount of transfers to other plans. Do not include rollovers out of this plan. Line 10g Enter total amount of rollovers in, Code Section 401(a)(31) direct transfers in, Code Section 414(l) transfers in, and net income received by the plan. Net income includes reinvested dividends and capital gains. Do not include appreciation. Line 10h Enter total expenses, such as fees, paid by the plan. Do not include distributions or depreciation. Line 10i Check no in Line 10i(1) and leave Lines 10i(2) and 10i(3) blank. Line 11a Enter total plan assets at the beginning and end of the plan year. Include rollovers, transfers, and unrealized gains/losses. Refer to your plan statements. Line 11b Enter total liabilities at the beginning and end of the plan year. Do not include future distributions. Lines 12a 12d If the plan held assets in any of the listed categories, check yes and enter the amount. Otherwise check no. Line 12e Does the plan have any participant loans? Check yes or no. If yes, enter the amount. Refer to page 8 of the IRS Form 5500-EZ instructions. Line 12f Does the plan have any loans other than the participant loans entered on Line 12e? Check yes or no. If yes, enter the amount. Refer to page 8 of the IRS Form 5500-EZ instructions. Line 12g Does the plan have any tangible personal property? Check yes or no. If yes, enter the amount. Refer to page 8 of the IRS Form 5500-EZ instructions. Lines 13a 13d Refer to page 8 of the IRS Form 5500-EZ instructions. If the answer to any of these questions is yes, consult your tax advisor or the IRS for guidance. Line 14a In addition to the business owners and spouses, are there any other employees? Check yes or no. Line 14b If the answer to Line 14a is yes, enter the total number of employees in Line 14b, including the owners and spouses. Refer to page 8 of the IRS Form 5500-EZ instructions. Line 14c If the answer to Line 14a is yes, refer to page 8 of the IRS Form 5500-EZ instructions to determine if the plan meets the coverage requirements of Code Section 410(b). Lines 15a 15c Answer as requested. Refer to page 8 of the IRS Form 5500-EZ instructions for further information. Page 6 of 19

7 5500 Guidelines for 2008 Plan Years Who Must File Form 5500 (See page 3 of the IRS instructions) When To File (See page 4 of the IRS instructions) How To Request An Extension (See page 5 of the IRS instructions) What If Plan Was Terminated (See page 7 of the IRS instructions) What To File (See page 8 of the IRS instructions) Schedules (See pages 8 14 and of the IRS instructions) Generally, administrators of money purchase pension, profit sharing, and 401(k) plans with participants other than owners, business partners, and spouses are required to file each year. The return is due by the last day of the seventh month after the end of the plan year that began in A two-and-a-half-month extension may be requested by filing Form 5558 with the Internal Revenue Service Center, Ogden UT (See page 5 of the IRS instructions for information on additional filing extensions, including automatic extensions, disaster relief extensions, and combat zone extensions.) A final Form 5500 must be filed for the plan year in which all assets are distributed. Form 5500 and all applicable schedules. Schedule A required if the plan contains insurance investments (line-by-line instructions are not provided) Schedule D required for American Institute of Certified Public Accountants (AICPA) plans with stable value investments (line-by-line instructions are not provided) Schedule H reports financial information for large plans (100 or more participants) (line-by-line instructions are not provided) (in certain circumstances, Schedules C and G may be required) Schedule I reports financial information for small plans (fewer than 100 participants) Schedule MB required for money purchase pension plans if the plan received a waiver of the minimum funding standard and the waiver is currently being amortized (line-byline instructions are not provided) Schedule R required if distributions were made from any plan (and for all money purchase pension plans) to report funding requirements Schedule SSA required if the plan had any separated participants with deferred vested benefits Note: A simplified reporting option is available for eligible plans with fewer than 25 participants at the beginning of the 2008 plan year. See page 9 of the IRS instructions for details. Where To File Form 5500 (See page 6 of the IRS instructions) By mail: EBSA P.O. Box 7043 Lawrence, KS By private delivery service: EBSA Attn: EFAST 3833 Greenway Drive Lawrence, KS How To File (See pages 6 7 of the IRS instructions) Penalties (See pages 7 8 of the IRS instructions) Electronic and paper filings are available. Call TAX-FORM ( ) to order necessary forms. The IRS imposes significant penalties for not filing by the due date. For detailed information, refer to the IRS instructions for Form Page 7 of 19

8 5500 Line-by-Line Instructions These line-by-line instructions are provided as a supplement to pages of the official IRS instructions to help you complete Form Line Explanation Part I If the plan operates on a fiscal year, enter your plan year beginning and ending dates. If this Form 5500 covers a shortened year, enter the applicable dates. Boxes A1 A4 Check the appropriate box. (Generally, the appropriate box for most employers using a T. Rowe Price Trust Company prototype plan is Box 2.) Boxes B1 B4 Check the appropriate box to indicate if this is a first return, an amended return, a final return, or a return for a short plan year. Box C Leave blank unless you are filing for a collectively bargained plan. Box D Check this box if you filed for (or are entitled to) an extension or if you are filing under the Delinquent Filer Voluntary Compliance Program. See pages 15 and 16 of the IRS Form 5500 instructions and attach a copy of your extension application or any other required information. Part II, Line 1a Enter the formal name of the plan as it appears in the adoption agreement, e.g., ABC Company Profit Sharing Plan. Line 1b Enter the three-digit plan number (PN). Each plan you establish has a separate PN. Your first plan is 001, the second plan is 002, etc. See page 16 of the IRS Form 5500 instructions. Line 1c Enter the effective date of the plan. This date is generally the first day of the plan year in which the plan was first established. Refer to the adoption agreement for the plan effective date. Signatures a and b The plan administrator signs in a, and the employer/plan sponsor signs in b. If the employer is the plan administrator, then a signature should be entered in each section. Also, for each signature, enter the date signed and type or print the name of the individual signing in each capacity. Line 2a Enter the employer s name and address, including room or suite number. Line 2b Enter your nine-digit employer identification number (EIN). See page 16 of the IRS Form 5500 instructions for information on obtaining an EIN. Line 2c Enter the employer s telephone number, including area code. Line 2d Refer to pages 66 through 68 of the IRS Form 5500 instructions. Enter the business activity code that best describes your business. Line 3a Enter the name and address of the plan administrator if it is different from Part II, Line 2a. Note: T. Rowe Price is not the plan administrator. Line 3b An EIN is required if the plan administrator is someone other than the employer. Refer to the instructions for line 3b on page 17 of the IRS Form 5500 instructions. Line 3c Enter the plan administrator s telephone number, including area code. Line 4 If the employer s name, EIN, or PN has changed, enter the prior name in 4a, enter the prior EIN in 4b, and enter the prior three-digit plan code in 4c. Failure to indicate these changes may result in an inquiry from the IRS or the Department of Labor. Line 5 If someone other than the employer prepared the form, enter his or her name, firm name, and address in 5a; enter the EIN in 5b; and enter the telephone number in 5c. Completing line 5 is optional. Line 6 Enter the number of participants at the beginning of the year. Lines 7a 7c Enter the number of participants on the appropriate lines. See page 17 of the IRS Form 5500 instructions. Line 7d Subtotal lines 7a, 7b, and 7c. Line 7e Enter the number of deceased participants whose beneficiaries are receiving or are entitled to receive benefits. Line 7f Total lines 7d and 7e. Line 7g Enter the number of participants with account balances at the end of the year. Page 8 of 19

9 Line Line 7h Line 7i Line 8a Line 8b Lines 9a 9b Line 10a Line 10b Explanation Enter the number of participants that terminated employment during the plan year and who were not 100% vested. Enter the number of participants that separated from service with deferred vested benefits. If a number is entered, you must file Schedule SSA as an attachment to Form Refer to page 18 of the IRS Form 5500 instructions. Pages 18 and 19 include the available codes to select. Code 3E is applicable to all T. Rowe Price prototype plans. Other possible codes for these plans include 2C, 2E, 2F, 2G, 2H, 2J, 2K, 2R, 3B, 3G, 3H, and 3J. Leave blank. Check all boxes that apply to indicate the funding and benefit arrangements used during the plan year. Box 3 is checked if all investments are in mutual funds. If the plan allows for insurance investment, check Box 1 and attach a completed Schedule A. Check the appropriate box(es) to indicate the schedules being filed and, where applicable, the number of schedules attached. Schedules R and SSA may be applicable. Check the appropriate box(es) to indicate the financial schedules attached. Schedules I or H, A, and D may be applicable. When Schedule H is completed, Schedules C and/or G may be required. Page 9 of 19

10 Schedule I Financial Information Small Plan Purpose of Schedule I Who Must File Schedule I reports information on plan assets and liabilities, income and expenses, and transactions during the plan year. Schedule I must be attached to Form 5500 filed for plans that covered fewer than 100 participants as of the beginning of the plan year. See page 37 of the IRS filing instructions for exceptions and a detailed explanation of who must file. Line-by-Line Instructions These line-by-line instructions are provided as a supplement to the official IRS instructions to help you complete Form If the plan operates on a fiscal year, enter your plan year beginning and ending dates. If Form 5500 covers a shortened year, enter the applicable dates. Line Explanation Lines A D Enter the plan name, three-digit plan number, plan sponsor, and EIN as they appear on Form Part I, Line 1a Round all values to the nearest whole dollar. Enter the total plan assets at the beginning and end of the plan year. The beginning balance should be the same as the ending balance of the prior year. Do not include any contributions designated for 2008 in column (a). The ending balance should equal the beginning year balance plus the net income (loss) and net transfers. Line 1b Enter the total amounts owed by the plan at the beginning and end of the plan year. If the plan has one or more participant loans, refer to page 37 of the IRS instructions. Line 1c Subtract Line 1b from Line 1a and enter the result here (net plan assets for the beginning and end of the plan year). Line 2a (1 3) Enter the contributions for each type. For plans using the cash method, enter only contributions actually received during the plan year. For plans using the accrual method, include contributions made after the plan year but designated for Use either method consistently; you may want to reference previous 5500 filings. Line 2b Generally, this will be 0. Line 2c Enter all plan earnings such as interest, dividends, capital gains, capital appreciation, etc. Refer to page 35 of the IRS instructions for additional types of income. Line 2d Add each contribution type in Lines 2a (1, 2, 3), 2b, and 2c, and enter the total in Line 2d. Line 2e Enter distributions from the plan, including rollovers. For plans using the accrual method, include distributions owed. Line 2f Enter any tax reportable distributions due to excess contributions. Line 2g Enter any loans that were deemed distributions. Refer to page 38 of the IRS instructions. Line 2h Enter any other fees or expenses paid by the plan. Line 2i Enter the total of Lines 2e through 2h. Line 2j Subtract Line 2i from Line 2d and enter the result here. Line 2k Consider all transfers into the plan and transfers out of the plan and enter the net result here. Do not include distributions reportable on Form 1099-R. Line 3a Does the plan have any partnership or joint venture interests? Check yes or no. This is generally no. If yes, enter the amount. Line 3b Does the plan own any real property leased to the employer? Check yes or no. This is generally no. If yes, enter the amount. Line 3c Does the plan own any real property other than employer real property included in Line 3b? Check yes or no. This is generally no. If yes, enter the amount. Line 3d Does the plan own any security issued by the employer? Check yes or no. This is generally no. If yes, enter the amount. Page 10 of 19

11 Line Line 3e Line 3f Line 3g Part II, Line 4a Line 4b Line 4c Line 4d Line 4e Line 4f Lines 4g 4j Line 4k Line 5a Line 5b Explanation Does the plan have any participant loans? Check yes or no. If yes, enter the amount. Refer to page 39 of the IRS instructions. Does the plan have any loans other than the participant loans entered on Line 3e? Check yes or no. This is generally no. If yes, enter the amount. Does the plan have any tangible property? Refer to page 39 of the IRS instructions for examples of tangible property. Check yes or no. This is generally no. If yes, enter the amount. Did the employer make any late contributions to the plan? Check yes or no. If yes, enter the amount. Refer to page 39 of the IRS instructions. Were any plan loans, other than participant loans, in default or classified as uncollectible by the end of the plan year? Check yes or no. This is generally no. Refer to page 39 of the IRS instructions. Were any leases made by the plan in default or deemed uncollectible? Check yes or no. This is generally no. Refer to page 39 of the IRS instructions. Refer to page 39 of the IRS instructions for a description of nonexempt transactions and answer accordingly. Was the plan covered by fidelity bond insurance? Check yes or no. If yes, enter the amount. Fidelity bond coverage is required if the plan covers any nonowner employees. Check your bond for the amount. Answer accordingly and enter the amount if the plan incurred a loss due to fraud or dishonesty. These are generally no. Refer to pages 40 and 41 of the IRS instructions and answer accordingly. Refer to page 41 of the IRS instructions and answer accordingly. Was the plan terminated during the plan year or prior year? Check yes or no. If yes, enter any amounts that reverted back to the employer. If the plan was terminated, the amount that reverted back to the employer is generally 0. Were any plan assets transferred from this plan to another plan? If yes, enter the name of the plan to which the assets were transferred. Do not include transfers of the same plan from one financial institution to another institution. Do not include any distributions reportable on Form 1099-R. Page 11 of 19

12 Schedule R Retirement Plan Information Purpose of Schedule R Who Must File Schedule R reports selected information on plan distributions and minimum coverage information, as well as funding requirements for money purchase pension plans. Schedule R must be attached to Form 5500 for certain types of plans. Generally, profit sharing plans must complete Part I if a distribution occurred during the year; money purchase pension plans must complete Part I if a distribution occurred during the year and must always complete Part II. See page 49 of the IRS filing instructions for a detailed explanation of who must file. Line-by-Line Instructions These line-by-line instructions are provided as a supplement to the official IRS instructions to help you complete Form If the plan operates on a fiscal year, enter your plan year beginning and ending dates. If Form 5500 covers a shortened year, enter the applicable dates. Line Explanation Lines A D Enter the plan name, plan sponsor, three-digit plan number, and EIN as they appear on Form Part I Line 1 Line 2 Line 3 Part II Line 4 Line 5 Line 6a Line 6b Line 6c Line 7 Part III Line 8 Part IV Line 9 Distributions. This section must be completed for both profit sharing plans and money purchase pension plans if a distribution occurred during the year. Enter the total value of distributions paid from the plan in any form other than cash, annuity contracts issued by an insurance company, or publicly traded employer securities. Enter EIN(s) of any payor(s) who paid benefits to participants or beneficiaries during the plan year. T. Rowe Price s EIN is If more than two payors made such payments, list the EINs of the two payors who paid the highest amount throughout the year. Do not include distributions in kind reported in Line 1. Enter the number of living or deceased participants whose benefits were distributed during the plan year in the form of a single sum distribution. Also include participants whose accounts were distributed as a direct rollover to an individual retirement account or a qualified plan. Funding Information. Complete this section only for money purchase pension plans. Check the appropriate box to indicate if the plan administrator is making an election under Code Section 412(c)(8) or ERISA Section 302(c)(8). See page 50 of the IRS instructions. Refer to the IRS instructions if a waiver of the minimum funding standard for a prior year is being amortized in this plan year. Enter the minimum required contribution for this plan year. Enter the amount contributed by the employer to the plan for this plan year. Subtract the amount in Line 6b from the amount in Line 6a and enter the result here. If Line 6c is a positive amount, see page 50 of the IRS instructions for additional attachment instructions. Check the N/A box. Amendments. Leave blank. Coverage. Refer to page 51 of the IRS instructions. Generally this box would be left blank if all employees who met the age and service requirements of the plan and satisfied the hours of service requirement for the plan benefited under the plan. Page 12 of 19

13 Schedule SSA Annual Registration Statement Identifying Separated Participants With Deferred Vested Benefits Purpose of Schedule SSA Who Must File Schedule SSA reports information on participants with deferred vested benefits who: separated from employment during the plan year; transferred into the plan during the plan year; or previously were reported under the plan but are no longer entitled to deferred vested benefits. Schedule SSA is also used to correct information previously submitted. Schedule SSA must generally be attached to Form However, plans that cover only owners and spouses are not required to file this schedule. See page 63 of the IRS filing instructions for a detailed explanation of who must file. Line-by-Line Instructions These line-by-line instructions are provided as a supplement to the official IRS instructions to help you complete Form If the plan operates on a fiscal year, enter your plan year beginning and ending dates. If Form 5500 covers a shortened year, enter the applicable dates. Line Explanation Lines A D Enter the plan name, plan sponsor, three-digit plan number, and EIN as they appear on Form Line 1 Line 2 Line 3a Check the box if the plan is a government, church, or other plan that voluntarily submits Schedule SSA. Enter the employer s address. Enter the name of the plan administrator if it is different from Line C. T. Rowe Price is not the plan administrator. Line 3b An EIN is required if the plan administrator is someone other than the employer. Refer to the instructions for Line 3b found on page 17 of the IRS instructions for more information. Line 3c Enter the plan administrator s address. Signature Signature of the plan administrator is required. Enter the date signed and telephone number of the plan administrator, including area code. Line 4a Enter Code A, B, C, or D. Line 4b Enter separated participant s Social Security number. Line 4c Enter separated participant s name. Lines 4d 4e Used only if Code A or B is used in Line 4a. Refer to page 64 of the IRS instructions. Lines 4f 4g Leave blank. Line 4h Enter the total value of the account at separation. Line 4i Used only if Code C is used in Line 4a. Enter the EIN for the previous employer. Line 4j Used only if Code C is used in Line 4a. Enter the plan number for the prior plan. Page 13 of 19

14 Fund Year-End Prices Mutual Fund December 31, 2007, Share Price December 31, 2008, Share Price Africa & Middle East $12.89 $5.61 Balanced Blue Chip Growth Capital Appreciation Capital Opportunity Corporate Income Developing Technology* 4.88 Diversified Mid-Cap Growth Diversified Small-Cap Growth Dividend Growth Emerging Europe & Mediterranean Emerging Markets Bond Emerging Markets Stock Equity Income Equity Index European Stock Extended Equity Market Index Financial Services Global Large-Cap Stock** Global Real Estate** Global Stock Global Technology GNMA Growth & Income Growth Stock Health Sciences High Yield Inflation Protected Bond International Bond International Discovery International Equity Index International Growth & Income International Stock Japan Latin America Media & Telecommunications Mid-Cap Growth Mid-Cap Value New America Growth New Asia New Era New Horizons Page 14 of 19

15 Mutual Fund December 31, 2007, Share Price December 31, 2008, Share Price New Income $9.04 $8.63 Overseas Stock Personal Strategy Balanced Personal Strategy Growth Personal Strategy Income Prime Reserve Real Estate Retirement Retirement Retirement Retirement Retirement Retirement Retirement Retirement Retirement Retirement Retirement Retirement Income Science & Technology Short-Term Bond Small-Cap Stock Small-Cap Value Spectrum Growth Spectrum Income Spectrum International Summit Cash Reserves Summit GNMA Total Equity Market Index U.S. Bond Index U.S. Treasury Intermediate U.S. Treasury Long-Term U.S. Treasury Money Value * Fund merged into Science & Technology ** New fund in 2008 Page 15 of 19

16 Small Plan Annual Audit Waiver Provisions Qualified plans are generally required to obtain an annual audit by a qualified independent public accountant. Department of Labor (DOL) regulations include conditions for small plans (generally those with fewer than 100 participants) to be exempt from the annual audit requirement. In addition to having a limited number of participants, the regulations require small plans to meet the additional requirements listed below in order to qualify for the annual audit waiver. Satisfaction of the requirements is determined at the beginning of each plan year. General conditions for audit waiver: 1. As of the last day of the preceding year, at least 95% of the assets of the plan must be qualifying plan assets OR, if the 95% requirement is not satisfied, any person who handles plan assets that are not qualifying plan assets is bonded under ERISA Section 412 with a bond in an amount not less than the value of the nonqualifying assets. 2. The summary annual report (SAR) for the plan must also include the following additional information: a. The amount and name of each regulated financial institution holding qualifying plan assets other than qualifying employer securities, participant loans, and qualifying self-directed accounts b. The name of the surety company issuing the bond if the plan has more than 5% of its assets in nonqualifying plan assets c. A notice that participants and beneficiaries can examine or request copies of specific financial statements and evidence of any required bond d. A notice stating that participants and beneficiaries should contact the DOL if they are unable to examine or obtain financial statements or evidence of a bond 3. In response to a request from a participant or beneficiary, the plan administrator must furnish, without charge, copies of statements the plan receives from the regulated financial institutions holding or issuing the plan s qualifying plan assets and evidence of any required fidelity bond. Qualifying plan assets are any of the following investments: 1. Shares issued by an investment company registered under the Investment Company Act of 1940 (i.e., registered mutual fund) 2. Assets held by a regulated financial institution 3. Investments and annuity contracts issued by an insurance company qualified to do business under the laws of any state 4. Assets in the individual account of a participant or beneficiary over which the participant or beneficiary has the opportunity to exercise control and with respect to which the participant or beneficiary is furnished, at least annually, a statement from a regulated financial institution describing the assets held (or issued) by such institution. (Note: The disclosures in the SAR would not have to include the assets described in this paragraph. Thus, a participant is not required to receive information in the SAR about the assets held in the individually directed accounts of other participants.) 5. Qualifying employer securities 6. Participant loans that meet the prohibited transaction exemption requirements under ERISA The plan administrator generally must provide the SAR no later than nine months after the close of the plan year (September 30 for a calendar year plan). Page 16 of 19

17 Summary Annual Report Based on information filed on Form (name of your plan) This is a summary of the annual report for (name of your plan and employer ID number, 5500, part II, 1a and 2b) for (plan year). The annual report has been filed with the Employee Benefits Security Administration as required under the Employee Retirement Income Security Act of 1974 (ERISA). Basic Financial Statement Benefits under the plan are provided by [5500, line 9a]. Plan expenses were $ [Schedule I, line 2i]. These expenses included $ [Schedule I, lines 2e 2g] in benefits paid to participants and beneficiaries and $ [Schedule I, line 2h] in other expenses. A total of [5500, line 7f] persons were participants in, or beneficiaries of, the plan at the end of the plan year, although not all of these persons had yet earned the right to receive benefits. The value of the plan assets, after subtracting the liabilities of the plan, was $ [Schedule I, line 1c (col. b)] as of (last day of plan year), compared with $ [Schedule I, line 1c (col. a)] as of (first day of plan year). During the year, the plan experienced (an increase or a decrease) in its net assets of $ [Schedule I, line 1c, (b minus a)]. This (increase or decrease) includes unrealized (appreciation or depreciation) in the value of plan assets; that is, the difference between the value of the plan s assets at the end of the year and the value of the assets at the beginning of the year, or the cost of assets acquired during the year. The plan had total income of $ [Schedule I, line 2d], including employer contributions of $ [Schedule I, line 2a(1) and 2(b) (if applicable)], employee contributions of $ [Schedule I, line 2a(2)], and earnings from investments of [Schedule I, line 2c]. Include this paragraph if applicable. The plan has (a contract or contracts) with (name of insurance carrier(s)), which (allocate or allocates) funds toward individual policies. The total premiums paid for the plan year ending (last day of plan year) were $ [Schedule A, part II, line 5b]. If a money purchase pension plan, select the appropriate sentence. A. Enough money was contributed to the plan to keep it funded in accordance with the minimum funding standards of ERISA. B. Not enough money was contributed to the plan to keep it funded in accordance with the minimum funding standards of ERISA. The amount of the deficit was $. [Schedule R, part II, line 6c] Page 17 of 19

18 Your Right to Additional Information You have the right to receive a copy of the full annual report, or any part thereof, on request to the plan administrator. The items listed below are included in that report: List only those items included in your latest annual report. 1. An accountant s report. 2. Financial information and information on payments to service providers. 3. Assets held for investment. 4. Fiduciary information, including nonexempt transactions between the plan and parties-in- interest (that is, persons who have certain relationships with the plan). 5. Loans or other obligations in default or classified as uncollectible. 6. Leases in default or classified as uncollectible. 7. Transactions in excess of 5% of the plan assets. 8. Insurance information, including sales commissions paid to insurance carriers. 9. Information regarding any common or collective trusts, pooled separate accounts, master trusts, or investment entities in which the plan participates. 10. Actuarial information regarding the funding of the plan. To obtain a copy of the full annual report, or any part thereof, write or call: Name Title Address Telephone The charge to cover copying costs will be $ part thereof. (your actual cost) for the full annual report or (maximum 25 ) per page for any You also have the right to receive from the plan administrator, on request and at no charge, a statement of the assets and liabilities of the plan and accompanying notes, or a statement of income and expenses of the plan and accompanying notes, or both. If you request a copy of the full annual report from the plan administrator, these two statements and accompanying notes will be included as part of that report. The charge to cover copying costs given above does not include a charge for the copying of these portions of the report because these portions are furnished without charge. You also have the legally protected right to examine the annual report at the main office of the plan, Address and any other location where the report is available for examination, such as a branch office or union hall,, Address and at the U.S. Department of Labor (DOL) in Washington, D.C.; or you may obtain a copy from the Department of Labor upon payment of copying costs. Requests to the Department should be addressed to: Public Disclosure Room, N-1513, Employee Benefits Security Administration, U.S. Department of Labor, 200 Constitution Avenue, N.W., Washington, D.C , Page 18 of 19

19 Additional Information for Preparers of Summary Annual Reports T. Rowe Price cannot determine whether your plan qualifies for an exemption from the Department of Labor s annual audit requirement for qualified plans. If you have questions regarding your plan s eligibility for an exemption, you should discuss them with your tax advisor. If you determine that your plan qualifies for the exemption and you elect to waive the audit requirement, you must include additional information in the plan s Summary Annual Report (SAR). Refer to the Small Plan Annual Audit Waiver Provisions on page 16 for a list of the additional information that must be included in your SAR. We have prepared the following draft language, which may need to be included in the SAR. Review this language carefully and make any appropriate revisions: The plan has met the requirement to waive the annual examination and report of an independent qualified public accountant. As of the end of the plan year, the following regulated financial institution(s) held or issued plan assets that constitute qualifying plan assets: $ $ The plan has been issued a fidelity bond by (Company). The bond provides some protection for the plan against losses through fraud or dishonesty and covers any person handling certain plan assets. You have the right to examine or receive from the plan administrator, on request and at no charge, copies of statements from the regulated financial institutions describing the qualifying plan assets and evidence of the required bond. If you are unable to examine or obtain these documents, contact a Department of Labor Employee Benefits Security Administration (EBSA) regional office for assistance. Information about contacting EBSA regional offices can be found on the Internet at $ wb 5/ K Page 19 of 19