{"schema_version":2,"canonical_url":"https://asc.understandingaccounting.org/asc/205/960/#45-other-presentation-matters","source":"FASB Accounting Standards Codification, Basic View","usage":"Study and research edition. Verify current requirements with the official source. Summaries, enrichment, and tags are machine-generated study aids. Paragraph html preserves source markup; snippet is abbreviated. Pending content is not necessarily effective.","topic":"205","topic_title":"Presentation of Financial Statements","subtopic":"205-960","subtopic_title":"Plan Accounting—Defined Benefit Pension Plans","section":{"number":"45","label":"45 Other Presentation Matters","anchor":"45-other-presentation-matters","is_sec":false,"groups":[{"block":null,"heading":null,"paragraphs":[{"citation":"205-960-45-1","para":"45-1","html":"<div class=\"asc-body\"><div class=\"norm-text\"> <span class=\"sfragment\" id=\"sfr_1A0F99F9-6E94-1014-A13F-6E4B94C84136\"><span class=\"sfragment-source\">The annual financial statements of a plan shall include all of the following: </span></span> <ol class=\"ol-norm\"> <li class=\"li-norm\"><span class=\"linum\">a</span> <div class=\"p\"> <span class=\"sfragment\" id=\"sfr_1A0F9B91-6E94-1014-A13F-6E4B94C84136\"><span class=\"sfragment-source\">A statement that includes information regarding the <a href=\"/glossary/n/#net-assets-available-for-benefits\" class=\"term\" title=\"The difference between a plan's assets and its liabilities. For purposes of this definition, a plan's liabilities do not include participants' accumulated plan benefits.\"><span>net assets available for benefits</span></a> as of the end of the plan year. </span></span> </div> </li> <li class=\"li-norm\"><span class=\"linum\">b</span> <div class=\"p\"> <span class=\"sfragment\" id=\"sfr_1A0F9CF7-6E94-1014-A13F-6E4B94C84136\"><span class=\"sfragment-source\">A statement that includes information regarding the changes during the year in the net assets available for benefits. </span></span> </div> </li> <li class=\"li-norm\"><span class=\"linum\">c</span> <div class=\"p\"> <span class=\"sfragment\" id=\"sfr_1A0F9E6B-6E94-1014-A13F-6E4B94C84136\"><span class=\"sfragment-source\">Information regarding the <a href=\"/glossary/a/#actuarial-present-value-of-accumulated-plan-benefits\" class=\"term\" title=\"The amount as of a benefit information date that results from applying actuarial assumptions to the benefit amounts determined pursuant to paragraphs 960-20-25-3960-20-25-4960-20-25-5 (that is, the accumulated plan benefits), with the actuarial assumptions being used to adjust those amounts to reflect the time value of money (through discounts for interest) and the probability of payment (by means of decrements such as for death, disability, withdrawal, or retirement) between the benefit information date and the expected date of payment.\"><span>actuarial present value of accumulated plan benefits</span></a> as of either the beginning or end of the plan year. </span></span> <span class=\"sfragment\" id=\"sfr_1A0F9FC9-6E94-1014-A13F-6E4B94C84136\"><span class=\"sfragment-source\"> Financial information presented as of the beginning of the year shall be the amounts as of the end of the preceding year. See paragraph <a href=\"/asc/960/20/#960-20-45-1\" class=\"xref\">960-20-45-1</a> for related guidance. </span></span> </div> </li> <li class=\"li-norm\"><span class=\"linum\">d</span> <div class=\"p\"> <span class=\"sfragment\" id=\"sfr_1A0FA136-6E94-1014-A13F-6E4B94C84136\"><span class=\"sfragment-source\">Information regarding the effects, if significant, of certain factors affecting the year-to-year change in the actuarial present value of accumulated plan benefits. </span></span> </div> </li> </ol> </div> </div>","snippet":"The annual financial statements of a plan shall include all of the following:\n(a) A statement that includes information regarding the net assets available for benefits as of the end of the plan year.\n(b) A statement that…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:e8a4817e86ca28cb04fe6951fbd323bb9b016756917431fbb9690b7b8502145b","downloaded_from":"2026-09-09T22:56:49.018Z","last_downloaded_at":"2026-09-09T22:56:49.018Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478949","source_sha256":"299b508dd9e0eccabc9030acebbe267e409cd09c02c32e3326d7d0b2d39e3af4"}},{"citation":"205-960-45-2","para":"45-2","html":"<div class=\"asc-body\"><div class=\"norm-text\">Example 1 (see paragraph <a href=\"/asc/205/960/#205-960-55-1\" class=\"xref\">960-205-55-1</a>) illustrates annual financial statements of a <a href=\"/glossary/d/#defined-benefit-plan\" class=\"term\" title=\"A defined benefit plan provides participants with a determinable benefit based on a formula provided for in the plan. Defined benefit health and welfare plans—Defined benefit health and welfare plans specify a determinable benefit, which may be in the form of a reimbursement to the covered plan participant or a direct payment to providers or third-party insurers for the cost of specified services. Such plans may also include benefits that are payable as a lump sum, such as death benefits. The level of benefits may be defined or limited based on factors such as age, years of service, and salary. Contributions may be determined by the plan's actuary or be based on premiums, actual claims paid, hours worked, or other factors determined by the plan sponsor. Even when a plan is funded pursuant to agreements that specify a fixed rate of employer contributions (for example, a collectively bargained multiemployer plan), such a plan may nevertheless be a defined benefit health and welfare plan if its substance is to provide a defined benefit. Defined benefit pension plan—A pension plan that defines an amount of pension benefit to be provided, usually as a function of one or more factors such as age, years of service, or compensation. Any pension plan that is not a defined contribution pension plan is, for purposes of Subtopic 715-30, a defined benefit pension plan. Defined benefit postretirement plan—A plan that defines postretirement benefits in terms of monetary amounts (for example, $100,000 of life insurance) or benefit coverage to be provided (for example, up to $200 per day for hospitalization, or 80 percent of the cost of specified surgical procedures). Any postretirement benefit plan that is not a defined contribution postretirement plan is, for purposes of Subtopic 715-60, a defined benefit postretirement plan. (Specified monetary amounts and benefit coverage are collectively referred to as benefits.)\"><span>defined benefit pension plan</span></a>.</div> </div>","snippet":"Example 1 (see paragraph 960-205-55-1) illustrates annual financial statements of a defined benefit pension plan.","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:3fe0dd69beb98eb99c767ad7b60769d2572600f7d7e4d4ee99e2c5be2d607288","downloaded_from":"2026-09-09T22:56:49.018Z","last_downloaded_at":"2026-09-09T22:56:49.018Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478949","source_sha256":"299b508dd9e0eccabc9030acebbe267e409cd09c02c32e3326d7d0b2d39e3af4"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:718f6366787f374823781a89cef8d00067070e9314b60c23604372b1a76282a9","downloaded_from":"2026-09-09T22:56:49.018Z","last_downloaded_at":"2026-09-09T22:56:49.018Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478949","source_sha256":"299b508dd9e0eccabc9030acebbe267e409cd09c02c32e3326d7d0b2d39e3af4"}},{"block":null,"heading":"Dates Used to Present Information","paragraphs":[{"citation":"205-960-45-3","para":"45-3","html":"<div class=\"asc-body\"><div class=\"norm-text\"> <span class=\"sfragment\" id=\"sfr_1A0FA2BA-6E94-1014-A13F-6E4B94C84136\"><span class=\"sfragment-source\">The primary objective of the financial statements of a defined benefit pension plan set forth in paragraph <a href=\"/asc/205/960/#205-960-10-1\" class=\"xref\">960-205-10-1</a> is satisfied only if both of the following occur: </span></span> <ol class=\"ol-norm\"> <li class=\"li-norm\"><span class=\"linum\">a</span> <div class=\"p\"> <span class=\"sfragment\" id=\"sfr_1A0FA42C-6E94-1014-A13F-6E4B94C84136\"><span class=\"sfragment-source\">Information regarding both the net assets available for benefits and the actuarial present value of accumulated plan benefits is presented as of the same date. </span></span> </div> </li> <li class=\"li-norm\"><span class=\"linum\">b</span> <div class=\"p\"> <span class=\"sfragment\" id=\"sfr_1A0FA58B-6E94-1014-A13F-6E4B94C84136\"><span class=\"sfragment-source\">Information regarding both the changes in net assets available for benefits and the changes in the actuarial present value of accumulated plan benefits is presented for the same period. </span></span> </div> </li> </ol> </div> </div>","snippet":"The primary objective of the financial statements of a defined benefit pension plan set forth in paragraph 960-205-10-1 is satisfied only if both of the following occur:\n(a) Information regarding both the net assets avai…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:990f6c24c7976b3626bff09a851cabeef6eda2801806a70fd3f24dd9e9539e51","downloaded_from":"2026-09-09T22:56:49.018Z","last_downloaded_at":"2026-09-09T22:56:49.018Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478949","source_sha256":"299b508dd9e0eccabc9030acebbe267e409cd09c02c32e3326d7d0b2d39e3af4"}},{"citation":"205-960-45-4","para":"45-4","html":"<div class=\"asc-body\"><div class=\"norm-text\"> <span class=\"sfragment\" id=\"sfr_1A0FA6F9-6E94-1014-A13F-6E4B94C84136\"><span class=\"sfragment-source\">Therefore, if the <a href=\"/glossary/b/#benefit-information-date\" class=\"term\" title=\"The date as of which the actuarial present value of accumulated plan benefits is presented.\"><span>benefit information date</span></a> pursuant to paragraph <a href=\"/asc/205/960/#205-960-45-1\" class=\"xref\">960-205-45-1(c)</a> is the beginning of the year, a statement that includes information regarding the net assets available for benefits as of that date and a statement that includes information regarding the changes during the preceding year in the net assets available for <a href=\"/glossary/b/#benefits\" class=\"term\" title=\"The monetary or in-kind benefits or benefit coverage to which participants may be entitled under a pension plan or a health and welfare plan (which can include active, terminated, and retired employees or their dependents or beneficiaries). Examples of benefits may include, but are not limited to, health care benefits, life insurance, legal, educational, and advisory services, pension benefits, disability benefits, death benefits, and benefits due to termination of employment.\"><span>benefits</span></a> shall also be presented. </span></span> <span class=\"sfragment\" id=\"sfr_1A0FA86F-6E94-1014-A13F-6E4B94C84136\"><span class=\"sfragment-source\">Use of an end-of-year benefit information date is considered preferable. Plans are encouraged to develop procedures to enable them to use that date (see paragraphs <div class=\"xref-range displayInline\"><a href=\"/asc/960/20/#960-20-35-16\" class=\"xref\">960-20-35-16 through 35-18</a></div>). </span></span> <span class=\"sfragment\" id=\"sfr_1A0FA9BF-6E94-1014-A13F-6E4B94C84136\"><span class=\"sfragment-source\"> The use of interim <a href=\"/glossary/b/#benefit-information\" class=\"term\" title=\"The actuarial present value of accumulated plan benefits.\"><span>benefit information</span></a> dates is not permitted. </span></span> </div> </div>","snippet":"Therefore, if the benefit information date pursuant to paragraph 960-205-45-1(c) is the beginning of the year, a statement that includes information regarding the net assets available for benefits as of that date and a s…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:619e62e7ee46757dd46d1c78876def22620ba91c633a8ed28358073c106030ee","downloaded_from":"2026-09-09T22:56:49.018Z","last_downloaded_at":"2026-09-09T22:56:49.018Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478949","source_sha256":"299b508dd9e0eccabc9030acebbe267e409cd09c02c32e3326d7d0b2d39e3af4"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:f9680dcbe99f471e49063e40d4632a3b5247e110ddf295045f65354ca9a2b041","downloaded_from":"2026-09-09T22:56:49.018Z","last_downloaded_at":"2026-09-09T22:56:49.018Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478949","source_sha256":"299b508dd9e0eccabc9030acebbe267e409cd09c02c32e3326d7d0b2d39e3af4"}},{"block":null,"heading":"401(h) Account Information","paragraphs":[{"citation":"205-960-45-5","para":"45-5","html":"<div class=\"asc-body\"><div class=\"norm-text\"> <span class=\"sfragment\" id=\"sfr_1A0FAB16-6E94-1014-A13F-6E4B94C84136\"><span class=\"sfragment-source\">Illustrative financial statements for a defined benefit pension plan with a 401(h) feature are presented in Example 2 (see paragraph <a href=\"/asc/205/960/#205-960-55-2\" class=\"xref\">960-205-55-2</a>). </span></span> </div> </div>","snippet":"Illustrative financial statements for a defined benefit pension plan with a 401(h) feature are presented in Example 2 (see paragraph 960-205-55-2).","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:cde99f005cf19af99921ba308e554f9ff2c30a3d3490ebcfd4f9d5256e946bef","downloaded_from":"2026-09-09T22:56:49.018Z","last_downloaded_at":"2026-09-09T22:56:49.018Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478949","source_sha256":"299b508dd9e0eccabc9030acebbe267e409cd09c02c32e3326d7d0b2d39e3af4"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:58d65d922a978f74705c47beca987360cc2d29e56a78563f102f4e8d0c4061db","downloaded_from":"2026-09-09T22:56:49.018Z","last_downloaded_at":"2026-09-09T22:56:49.018Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478949","source_sha256":"299b508dd9e0eccabc9030acebbe267e409cd09c02c32e3326d7d0b2d39e3af4"}},{"block":null,"heading":"Statement of Cash Flows","paragraphs":[{"citation":"205-960-45-6","para":"45-6","html":"<div class=\"asc-body\"><div class=\"norm-text\"> <span class=\"sfragment\" id=\"sfr_1A0FACAC-6E94-1014-A13F-6E4B94C84136\"><span class=\"sfragment-source\">Paragraph <a href=\"/asc/230/10/#230-10-15-4\" class=\"xref\">230-10-15-4</a> states that a statement of cash flows is not required to be provided by a defined benefit pension plan that presents financial information in accordance with this Subtopic. </span></span> <span class=\"sfragment\" id=\"sfr_1A0FADF9-6E94-1014-A13F-6E4B94C84136\"><span class=\"sfragment-source\">That paragraph states that other <a href=\"/glossary/e/#employee\" class=\"term\" title=\"A person who has rendered or is presently rendering service.\"><span>employee</span></a> benefit plans that present financial information similar to that required by this Subtopic (including the presentation of plan investments at fair value) also are not required to provide a statement of cash flows. </span></span> <span class=\"sfragment\" id=\"sfr_1A0FAF44-6E94-1014-A13F-6E4B94C84136\"><span class=\"sfragment-source\">That paragraph also states that employee benefit plans are encouraged to include a statement of cash flows with their annual financial statements if that statement would provide relevant information about the ability of the plan to meet future obligations (for example, if the plan invests in assets that are not highly liquid or obtains financing for investments). </span></span> </div> </div>","snippet":"Paragraph 230-10-15-4 states that a statement of cash flows is not required to be provided by a defined benefit pension plan that presents financial information in accordance with this Subtopic. That paragraph states tha…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:03159c0790ab2fe652bd94a62f1487536bd6fabf68405874476e1cb9994ce3d2","downloaded_from":"2026-09-09T22:56:49.018Z","last_downloaded_at":"2026-09-09T22:56:49.018Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478949","source_sha256":"299b508dd9e0eccabc9030acebbe267e409cd09c02c32e3326d7d0b2d39e3af4"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:0027d6a49d5135c84ed0211d79f673e3c6d31b2a53d0e7ef20774b1108ab1202","downloaded_from":"2026-09-09T22:56:49.018Z","last_downloaded_at":"2026-09-09T22:56:49.018Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478949","source_sha256":"299b508dd9e0eccabc9030acebbe267e409cd09c02c32e3326d7d0b2d39e3af4"}},{"block":null,"heading":"Interests in Master Trusts","paragraphs":[{"citation":"205-960-45-7","para":"45-7","html":"<div class=\"asc-body\"><div class=\"norm-text\"> <span class=\"sfragment\" id=\"sfr_1A0FB079-6E94-1014-A13F-6E4B94C84136\"><span class=\"sfragment-source\">For each master trust in which a plan holds an interest, a plan shall present that interest and the change in that interest in separate line items </span></span> <span class=\"sfragment\" id=\"sfr_1A0FB1C9-6E94-1014-A13F-6E4B94C84136\"><span class=\"sfragment-source\">in the statement of net assets available for benefits </span></span> <span class=\"sfragment\" id=\"sfr_1A0FB2F8-6E94-1014-A13F-6E4B94C84136\"><span class=\"sfragment-source\">and in the statement of changes in net assets available for benefits, respectively. See Section <a altsource=\"GUID-2BA75BCD-0170-4E4E-A1E3-BB3C3B8AE9C4.ditamap\" class=\"ditamap\">960-325-50</a> for master trust disclosures. </span></span> </div> </div>","snippet":"For each master trust in which a plan holds an interest, a plan shall present that interest and the change in that interest in separate line items in the statement of net assets available for benefits and in the statemen…","pending":false,"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:34f953d492f9c99a643015ffe94a7bb219d4c41221ea241f83487376bd479b27","downloaded_from":"2026-09-09T22:56:49.018Z","last_downloaded_at":"2026-09-09T22:56:49.018Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478949","source_sha256":"299b508dd9e0eccabc9030acebbe267e409cd09c02c32e3326d7d0b2d39e3af4"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:bf522381b929bb6bab750f8f49f5e0917bdf537ddcf6a453b763df661cb2fe7b","downloaded_from":"2026-09-09T22:56:49.018Z","last_downloaded_at":"2026-09-09T22:56:49.018Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478949","source_sha256":"299b508dd9e0eccabc9030acebbe267e409cd09c02c32e3326d7d0b2d39e3af4"}}],"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:728c4da731f41f8f3482af6a1bcebec7d8ae637b7c3d8995e2153045abfeeac1","downloaded_from":"2026-09-09T22:56:49.018Z","last_downloaded_at":"2026-09-09T22:56:49.018Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478949","source_sha256":"299b508dd9e0eccabc9030acebbe267e409cd09c02c32e3326d7d0b2d39e3af4"}},"provenance":{"source_url":"https://asc.fasb.org/","snapshot_version":"sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f","record_version":"sha256:728c4da731f41f8f3482af6a1bcebec7d8ae637b7c3d8995e2153045abfeeac1","downloaded_from":"2026-09-09T22:56:49.018Z","last_downloaded_at":"2026-09-09T22:56:49.018Z","date_scope":"source_page","effective_as_of":null,"effective_as_of_status":"Not established by retrieval timestamps","source_key":"1943274/2147478949","source_sha256":"299b508dd9e0eccabc9030acebbe267e409cd09c02c32e3326d7d0b2d39e3af4"}}