Report your defined benefit plan in Part 2.  In addition, report your participation in a defined benefit plan in Part 3 (see Part 3 of this guide for details).

For You

Part 2

Report a defined benefit plan if the value of the plan was more than $1,000 at the end of the reporting period or if you received more than $200 in retirement payments during the reporting period.  Do not report a plan that you obtained through United States Government employment.

Description:  Report the name of the employer providing the plan and write “defined benefit plan.”

EIF:  Select “N/A.”

Value:

(1) If the value of the plan is readily ascertainable:  Report the value of the plan by marking the appropriate category.

(2) If the value of the plan is not readily ascertainable but you received more than $200 in income during the reporting period:  Leave the “Value” field blank and write “value not readily ascertainable” in the “Description” field.

(3) If the value of the plan is not readily ascertainable and you did not receive more than $200 in income during the reporting period:  Leave the “Value” field blank.  In the “Description” field, write “value not readily ascertainable” and indicate the monthly or annual amount that you will be eligible to receive at a certain age (e.g., “eligible for $3,000/mo. at age 65”).

Income Type:  If the total amount of income during the reporting period exceeded $200, write “retirement payments” and indicate whether you are reporting a monthly or annual amount.  Otherwise, leave the field blank.

Income Amount:  If the total amount of income during the reporting period exceeded $200, provide either the monthly or annual amount that you receive.  Otherwise, select the “None (or less than $201)” category.

Click Here for Frequently Asked Questions