Vanessa Pham

Vanessa is the Marketing Manager at Sense Financial Services LLC. Vanessa oversees all marketing efforts of Sense Financial, including live events and webinars, online content distribution, and social media management.

4 Comments

  1. alan chong
    May 9, 2016 @ 10:10 am

    5500 EZ requires assets valuation. If stock or cash, that’s easy. However, if the assets are in real estate, does that require an appraiser to determine the value of the assets?

    Reply

    • Sense Financial Team
      May 9, 2016 @ 3:21 pm

      Alan, you are correct – you must provide total value of the plan on form 5500-EZ. You don’t have to use an appraisal and can use other methods such as BPO (Broker’s Price Opinion) or CMA (Comparative Market Analysis) for example to determine the value of the asset. Please note that if you take in-kind distributions or conversion to a Roth (in other words if there is a taxable event) – an appraisal will be required.

      Reply

  2. Joe Budelis
    May 9, 2016 @ 3:38 pm

    You state “many plan owners can choose to file annual return for their plan anyway. The reason is that if there is no filing of form 5500EZ, the statute of limitation will never start running on the plan.” Could you explain this. What “statute of limitation”? And, why does it matter?

    Reply

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