Trust Examiner School eBook

Employee Benefit Account

Employee Benefit Account Line Sheet

Account name:

Bank name:

Account number:

Examiner:

Administrative officer:

Exam start date:

Type of Plan:

Capacity of the Bank: Reviewed as of date:

Total Assets (MV):

Date of last administrative review:

Date of last investment review:

Plan administrator:

Named fiduciary:

Invest authority: Sole discretion Shared with

None (directed by)____________________

Investment Officer: Has any outside investment manager acknowledged in writing that it is a fiduciary with respect to the plan? Are plan assets invested in accordance with plan documents and investment objectives?

Do governing documents provide specific authority for investment in the following: Own-bank collective investment funds? Own-bank interest-bearing deposits?

Has an independent fiduciary directed the bank to invest in: Proprietary mutual funds? Repurchase agreements?

Own-bank securities? Employer securities? Employer real estate or leases? Loans to the employer/plan sponsor? Participant loans?

Has an independent fiduciary directed the bank to participate in securities lending? DATE

Does the bank maintain signed copies of the following: Plan (or adoption agreement for a prototype plan)? Plan amendments? Trust agreement (if separate from the plan)? Plan sponsor board resolution adopting the plan and any amendments? Specimen signatures for receiving directives from the plan sponsor, plan administrator or others? IRS determination letter? Does the bank maintain written directives for: Participant loans? Benefit payments or distributions? Investments (unless the bank has investment discretion)? Co-fiduciary approvals?

Fee arrangements:

Documentation exceptions:

Comments:

1

FDIC 6350/40 (10-12)