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Form 6088: Distributable Benefits From Employee Pension Benefit Plans
IRS Form 6088 is used to report Distributable Benefits From Employee Pension Benefit Plans for a plan sponsor or administrator. This form is required when filing an application for determination letter regarding a plan termination.
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IRS Form 6088 - Distributable Benefits From Employee Pension Benefit Plans
IRS Form 6088 is used to report Distributable Benefits From Employee Pension Benefit Plans for a plan sponsor or administrator. This form is required when filing an application for determination letter regarding a plan termination.
Risk Radar
Scan points- 1Ensure column (b) correctly indicates 'NA' if a participant is not highly compensated under section 414(q).
- 2Failing to attach a separate schedule when accrued benefit differs from years of participation (defined benefit plans).
- 3Not providing information for all participants if underfunded defined contribution plan has fewer than 25 members.
- 4For defined benefit plans, forgetting to list the accrued benefit in column (f) as of termination date.
- 5Completing only columns (a), (b), (e), (g)(1), (g)(3), and (h) for underfunded defined contribution plans.
Plain English
This form allows the Internal Revenue Service (IRS) to review details about employee pension plans that are ending. It provides information on who receives benefits and how much they are entitled to upon the plan's conclusion. The IRS uses this data when analyzing an application for official determination of the plan's qualification.
Submission Date
- Filing date: 2012-07-17 00:00:00
- Preparation window: collect IDs, supporting records, and signatures in advance.
- Final review: verify names, dates, and required fields before submission.
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What this form is for
- Use this form when an employer or plan administrator must report Distributable Benefits From Employee Pension Benefit Plans as part of an application for an IRS determination letter regarding a plan termination.
- Do not use this form if the purpose is simply to provide general participant data without relating it to a formal plan termination determination request.
- Check Form 5310 instead when applying for a determination letter for terminating plans; check Form 5300 when applying for a determination letter for an employee benefit plan.
Form selector
Use this form or another form?
Underfunded Defined Contribution Plan
Complete columns (a), (b), (e), (g)(1), (g)(3), and (h) to report participant data.
✓ Confirm all required fields are completed for every participant.
Defined Benefit Plan (General)
Complete all columns except (g)(1), (g)(2), and (g)(3) unless specific allocation rules apply.
✓ Ensure you have accounted for the benefits not covered by the three specified columns.
More than 25 Participants
Attach additional sheets in the same format to provide information for all participants beyond the first 25 listed on the main form.
✓ Verify that the attached sheets match the required formatting of Form 6088.
Deadline or filing window
The filing trigger is the application for an IRS determination letter regarding plan termination. The form must be attached to Form 5310 or Form 5300 at that time, with no specific subsequent deadline mentioned in the source.
Checklist
What you need before filling it out
Participant's last name and initials (a)
Participant identification data · Form 6088, Line 1-27
Highly Compensated Check (b)
Indication of highly compensated status under section 414(q) · Column (b), Page 2
Accrued Benefit (f)
Total accrued benefit at plan termination (normal retirement age) · Column (f), Page 2
Total Account Balances (g)(1)
Sum of assets distributable for mandatory and voluntary contributions (Defined Contribution Plans) · Column (g)(1), Page 2
Filing Requirement
Plan sponsor or administrator must attach Form 6088 to Form 5310/5300 · Page 2, Who Must File section
Total Check (g) vs Line 20(I)
Sum of amounts in columns (g)(1), (g)(2), and (g)(3) must equal line 20(I) of Form 5310 · Page 2, Column (g) section
Before you submit
- 1Ensure participant census data is accurate as of the date of plan termination or proposed date of plan termination.
- 2For defined benefit plans, confirm column (f) lists the accrued benefit at normal retirement age, excluding voluntary contributions.
- 3If using a defined contribution plan, verify that column (g)(1) contains total assets attributable to mandatory and voluntary employee contributions.
- 4Check column (b) for each participant to indicate highly compensated status or enter 'NA' if not applicable.
- 5Verify that the sum of columns (g)(1), (g)(2), and (g)(3) equals line 20(I) of Form 5310, attaching an explanation if they do not match.
- 6If submitting for an underfunded defined benefit plan, ensure all columns (a) through (h) are completed for each participant.
- 7Confirm that the form is attached to the correct application (Form 5310 or Form 5300).
How to file this form
- 1Prepare a participant census as of the date of plan termination or proposed date of plan termination, filling out required data in columns (a) through (h).
- 2For defined benefit plans, enter the accrued benefit amount in column (f), ensuring voluntary contributions are excluded; for defined contribution plans, enter total account balances in column (g)(1).
- 3Complete all necessary calculations and ensure that the sum of amounts in columns (g)(1), (g)(2), and (g)(3) matches line 20(I) of Form 5310.
- 4Attach additional sheets if there are more than 25 participants, ensuring they follow the same format as Form 6088. Finally, attach Form 6088 to the appropriate application for determination letter (Form 5310 or Form 5300).
Known limitations
- 1For defined benefit plans other than those subject to a preceding paragraph (regarding column g entries), all columns except (g)(1), (g)(2), and (g)(3) must be completed.
- 2If the sum of amounts in column (h) does not equal line 20(I) of Form 5310, an explanation of the difference must be attached.
- 3For a collectively bargained underfunded plan benefiting noncollectively bargained employees, a separate Form 6088 must be filed for each employer with those noncollectively bargained employees.
- 4If more than 2% of the employees covered by a collectively bargained plan are professional employees, file as if all employees covered by that plan were noncollectively bargained employees.
Field map
Compact field-by-field guide
General Info
2 items
Full legal name and taxpayer identification number (SSN or EIN).
Current mailing address.
Details
2 items
Complete all applicable sections of this form according to the official IRS instructions.
Enter the relevant dollar amount if this form involves tax calculation.
Certification
1 items
Read and acknowledge any certifications required by this form.
Signatures
1 items
Sign and date. Unsigned forms cannot be processed.
Almost done reviewing the fields?
Fillable formOpen in Editor->The current edition on file is March 2008 (Rev. March 2008). The source does not point to a specific 'latest information' page, but it references instructions for Form 5310.
What changed or needs a fresh check
- Edition date — confirm the revision date reads March 2008.
- Form number — confirm the form is IRS Form 6088.
- Signature — state that a signature is required, though no specific location is noted on page 1.
- Mailing address — Not stated in the official source.
Quick Facts
Downloads
After you file
- 1Keep a copy of Form 6088 after filing.
- 2Attach Form 6088 to the application for determination letter (Form 5310 or Form 5300) when sending it to the Internal Revenue Service (IRS).
- 3If applicable, attach an explanation showing why the sum of amounts in column (g) does not equal line 20(I) of Form 5310.
- 4For defined benefit plans, if the accrued benefit is increased or decreased due to top-heaviness, section 415 limitations, or offsets, an attachment detailing this change must be included.
Sources
- SRCForm 6088 is used to report Distributable Benefits From Employee Pension Benefit Plans.
- SRCThe Internal Revenue Service (IRS) uses the information on Form 6088 to analyze an application for a determination letter on the qualification of the plan upon termination. [Form p.2]
- SRCA plan sponsor or administrator must attach Form 6088 when filing an application for an IRS determination letter regarding a plan termination. [Form p.2]
- SRCFor defined benefit plans, participants are listed in column (f) and have their accrued benefit entered there. [Form p.1]
- SRCIf the sum of amounts in columns (g)(1), (g)(2), and (g)(3) does not equal line 20(I) of Form 5310, an explanation must be attached. [Form p.2]
- SRCFor defined benefit plans, if there are fewer than 25 participants, all must be listed on Form 6088. [Form p.2]
Common confusion points
Do I need to list all participants?
If there are fewer than 25 participants in a defined benefit plan, list every single one.
→ Check the instructions for column (a) regarding participant priority if you have more than 25.
When filling out column (f) on a defined benefit plan, what exactly is the accrued benefit?
It is the amount as of the date of plan termination in the normal form payable at normal retirement age, excluding benefits from voluntary employee contributions/rollovers.
→ Check if you need to attach a separate schedule if years of credited service differ from years of participation.
If my defined contribution plan has more than 25 participants, do I list them all?
No; submit only the first 25 participants who fall under the priorities specified in the instructions for column (a).
→ Confirm that you are following the priority order listed in the form's instructions.
What is the difference between (g)(1), (g)(2), and (g)(3) on a defined benefit plan?
(g)(1) is allocated per section 4044(a)(1) and (2); (g)(2) is allocated per section 4044(a)(3) and (4)(A); (g)(3) is all other amounts.
→ Ensure the total of these three columns matches line 20(I) of Form 5310.
When must I file a separate Form 6088?
You must file a separate form for each employer with noncollectively bargained employees if your plan is collectively bargained and underfunded.
→ Verify the specific employment status when determining how many separate forms are required.
What happens if my accrued benefit changes due to limitations or offsets?
Report this change in an attachment that includes a detailed calculation, but do not adjust for an election of a majority owner to forego receipt of a distribution under PBGC Regulations section 4041.21(b)(2).
→ Check the instructions regarding how to report the benefit if it is paid in a pay status instead of a normal retirement age form.
Workflow map
Related forms and next steps
Before
Current
After
Often used with
⚠ If something goes wrong
- Form 5310, Application for Determination for Terminating Plans (Use this form if you need a determination letter regarding plan termination.)
Questions about IRS Form 6088
What is IRS Form 6088 used for?
This form allows the Internal Revenue Service (IRS) to review details about employee pension plans that are ending. It provides information on who receives benefits and how much they are entitled to upon the plan's conclusion. The IRS uses this data when analyzing an application for official determination of the plan's qualification.
Who must file IRS Form 6088?
A plan sponsor or administrator of a defined benefit or an underfunded defined contribution plan must attach Form 6088 to its termination application with the Internal Revenue Service (IRS).
What information does IRS Form 6088 require?
The form collects participant census information, including details on accrued benefits in column (f) for defined benefit plans. It also requires indicating if a participant is highly compensated under section 414(q) in column (b).
Where do I file IRS Form 6088?
The form is submitted as part of an application package (Form 5310 or Form 5300) to the Internal Revenue Service (IRS).
How do I complete IRS Form 6088?
First, prepare the participant census as of the date or proposed date of plan termination. For underfunded defined benefit plans, complete columns (a) through (h) for all participants. If there are more than 25 participants, attach additional sheets in the same format before submitting.
What happens if IRS Form 6088 is filed incorrectly?
The information on Form 6088 is used by the IRS to analyze the plan's qualification upon termination; failure to provide accurate data could affect this determination.
Do I need to list all participants?
If there are fewer than 25 participants in a defined benefit plan, list every single one. Check the instructions for column (a) regarding participant priority if you have more than 25.
When filling out column (f) on a defined benefit plan, what exactly is the accrued benefit?
It is the amount as of the date of plan termination in the normal form payable at normal retirement age, excluding benefits from voluntary employee contributions/rollovers. Check if you need to attach a separate schedule if years of credited service differ from years of participation.
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