How to open a balance of a 401k account?

[Filip Miletic (Филип Милетић)]

Hi folks.  How does one open a balance on a 401k account?

I'm confused by the fact that my 401k plan does not reveal actual holdings (not sure why not, I may just not have looked hard enough?) nor does it seem to report individual lots, but rather just the dollar values at the end of a period.

Thanks,

F

[Martin Blais]

On Fri, Nov 17, 2017 at 1:31 AM, Filip Miletic (Филип Милетић) <fil...@gmail.com> wrote:

Hi folks.  How does one open a balance on a 401k account?

I'm confused by the fact that my 401k plan does not reveal actual holdings (not sure why not, I may just not have looked hard enough?) nor does it seem to report individual lots, but rather just the dollar values at the end of a period.

It is common for 401k or RRSP (in Canada) or Superannuation (in Australia) not to report the number of shares of funds because there are no tax consequences from trading in these accounts. In other words, you are not required to record and track the cost basis in these accounts because taxes are to be paid on distributions from these accounts, i.e., when you take the money out, presumably at retirement time.

The funds you invest in definitely have some number of units. If you can't get the number, as long as you can track in-flows and out-flows to the account, you should be able to create some sort of virtual fund for it. See this recent thread for a related discussion on how to handle this:

https://groups.google.com/d/msg/beancount/NaieVRzb6-E/0ybtm2thBgAJ

Thanks,

F

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