Does TIAA-CREF report the “cost” of units of the CREF and TIAA Real Estate accounts?
No. The DOL has clarified in the revised Form 5500 that it is no longer necessary to report “cost” information in the “Schedule of Assets Held for Investment Purposes At End of Year,” required by line 4i of schedule H. The instructions to line 4i of schedule H clearly provide that: “Cost information may be omitted when reporting transactions of an individual account plan that a participant or beneficiary directed with respect to assets allocated to his or her own account…” Since TIAA-CREF contracts fund such individual account plans, cost information with respect to them may be omitted from the schedule, which now only requires: the identity of the issuer, a description of the investment, and the current value as of the end of the year.
Related Questions
- How do I transfer my Retirement Annuity (RA) funds from TIAA Traditional account to one of the CREF accounts or to the TIAA Real Estate Account? What is the Transfer Payout Annuity?
- Can you provide a breakdown of the plan administrative expenses charged against the assets of the CREF accounts and the TIAA Real Estate Account?
- Does TIAA-CREF report the "cost" of units of the CREF and TIAA Real Estate accounts?
