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PPCs A&A Workpapers

Reconciliation to 5500

Use this template to prepare reconciliation footnotes for various elements of a plan's financial statements. Separate worksheets have been included to allow the reconciliation of common financial statement differences and to analyze such differences for the current year and the four prior years.
Identify the type of plan under audit (defined benefit, defined contribution, or health and welfare) by clicking the circle next to the appropriate item on the Net Assets worksheet.  This selection will be used to suggest common reconciling items on this and the other sheets within this workbook.  The template consists of the following individual sheets:
  • Net Assets. Click the Add Reconciling Items button for suggestions of common reconciling items between net assets available for benefits per the financial statements and the Form 5500.
  • Apprec & Deprec. Click the Add Reconciling Items button for suggestions of common reconciling items between net appreciation/depreciation in fair value of investments per the financial statements and the Form 5500.
  • Interest Income. Click the Add Reconciling Items button for suggestions of common reconciling items between the financial statements and the Form 5500 for interest income.
  • ER Contributions. Click the Add Reconciling Items button for suggestions of common reconciling items between the financial statements and the Form 5500 for employer contributions.
  • EE Contributions. Click the Add Reconciling Items button for suggestions of common reconciling items between the financial statements and the Form 5500 for employee contributions.
  • Benefits Paid. Click the Add Reconciling Items button for suggestions of common reconciling items between the financial statements and the Form 5500 for benefits paid to participants.
  • Admin Expenses. Click the Add Reconciling Items button for suggestions of common reconciling items between the financial statements and the Form 5500 for administrative expenses.
  • Insurance Paid. Click the Add Reconciling Items button for suggestions of common reconciling items between the financial statements and the Form 5500 for insurance premiums paid.
Note: For each of the sheets on the template, if “Other” is selected, be sure to enter an appropriate description in the underlying worksheet.
Although the financial statements of most employee benefit plans do not disclose more than two years of reconciliation data, the auditor can use the five-year analysis of reconciliation items included in this template to review the current-year disclosures for reasonableness.
Cells that contain formulas have been shaded yellow to differentiate them from input cells. You do not need to enter figures into the yellow cells. These cells will populate after the underlying information is entered.