# ASC 205-960-45: Presentation of Financial Statements — Plan Accounting—Defined Benefit Pension Plans — 45 Other Presentation Matters Source: FASB Accounting Standards Codification, Basic View [Read online](https://asc.understandingaccounting.org/asc/205/960/#45-other-presentation-matters) 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. Tables and mathematical or amendment markup are retained as HTML where Markdown would lose structure. Source downloaded (UTC): 2026-09-09T22:56:49.018Z to 2026-09-09T22:56:49.018Z Record version: sha256:728c4da731f41f8f3482af6a1bcebec7d8ae637b7c3d8995e2153045abfeeac1 Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. ## ASC 205-960-45: 45 Other Presentation Matters [Read section](https://asc.understandingaccounting.org/asc/205/960/#45-other-presentation-matters) SEC content: no ##### [205-960-45-1](https://asc.understandingaccounting.org/asc/205/960/#205-960-45-1) Pending content: no Source downloaded (UTC): 2026-09-09T22:56:49.018Z to 2026-09-09T22:56:49.018Z Record version: sha256:e8a4817e86ca28cb04fe6951fbd323bb9b016756917431fbb9690b7b8502145b Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. The annual financial statements of a plan shall include all of the following: 1. a A statement that includes information regarding the [net assets available for benefits](https://asc.understandingaccounting.org/glossary/n/#net-assets-available-for-benefits "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.") as of the end of the plan year. 2. b A statement that includes information regarding the changes during the year in the net assets available for benefits. 3. c Information regarding the [actuarial present value of accumulated plan benefits](https://asc.understandingaccounting.org/glossary/a/#actuarial-present-value-of-accumulated-plan-benefits "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.") as of either the beginning or end of the plan year. Financial information presented as of the beginning of the year shall be the amounts as of the end of the preceding year. See paragraph [960-20-45-1](https://asc.understandingaccounting.org/asc/960/20/#960-20-45-1) for related guidance. 4. d Information regarding the effects, if significant, of certain factors affecting the year-to-year change in the actuarial present value of accumulated plan benefits. ##### [205-960-45-2](https://asc.understandingaccounting.org/asc/205/960/#205-960-45-2) Pending content: no Source downloaded (UTC): 2026-09-09T22:56:49.018Z to 2026-09-09T22:56:49.018Z Record version: sha256:3fe0dd69beb98eb99c767ad7b60769d2572600f7d7e4d4ee99e2c5be2d607288 Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. Example 1 (see paragraph [960-205-55-1](https://asc.understandingaccounting.org/asc/205/960/#205-960-55-1)) illustrates annual financial statements of a [defined benefit pension plan](https://asc.understandingaccounting.org/glossary/d/#defined-benefit-plan "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.)"). #### Dates Used to Present Information ##### [205-960-45-3](https://asc.understandingaccounting.org/asc/205/960/#205-960-45-3) Pending content: no Source downloaded (UTC): 2026-09-09T22:56:49.018Z to 2026-09-09T22:56:49.018Z Record version: sha256:990f6c24c7976b3626bff09a851cabeef6eda2801806a70fd3f24dd9e9539e51 Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. The primary objective of the financial statements of a defined benefit pension plan set forth in paragraph [960-205-10-1](https://asc.understandingaccounting.org/asc/205/960/#205-960-10-1) is satisfied only if both of the following occur: 1. a 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. 2. b 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. ##### [205-960-45-4](https://asc.understandingaccounting.org/asc/205/960/#205-960-45-4) Pending content: no Source downloaded (UTC): 2026-09-09T22:56:49.018Z to 2026-09-09T22:56:49.018Z Record version: sha256:619e62e7ee46757dd46d1c78876def22620ba91c633a8ed28358073c106030ee Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. Therefore, if the [benefit information date](https://asc.understandingaccounting.org/glossary/b/#benefit-information-date "The date as of which the actuarial present value of accumulated plan benefits is presented.") pursuant to paragraph [960-205-45-1(c)](https://asc.understandingaccounting.org/asc/205/960/#205-960-45-1) 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 [benefits](https://asc.understandingaccounting.org/glossary/b/#benefits "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.") shall also be presented. 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 [960-20-35-16 through 35-18](https://asc.understandingaccounting.org/asc/960/20/#960-20-35-16) ). The use of interim [benefit information](https://asc.understandingaccounting.org/glossary/b/#benefit-information "The actuarial present value of accumulated plan benefits.") dates is not permitted. #### 401(h) Account Information ##### [205-960-45-5](https://asc.understandingaccounting.org/asc/205/960/#205-960-45-5) Pending content: no Source downloaded (UTC): 2026-09-09T22:56:49.018Z to 2026-09-09T22:56:49.018Z Record version: sha256:cde99f005cf19af99921ba308e554f9ff2c30a3d3490ebcfd4f9d5256e946bef Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. 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](https://asc.understandingaccounting.org/asc/205/960/#205-960-55-2)). #### Statement of Cash Flows ##### [205-960-45-6](https://asc.understandingaccounting.org/asc/205/960/#205-960-45-6) Pending content: no Source downloaded (UTC): 2026-09-09T22:56:49.018Z to 2026-09-09T22:56:49.018Z Record version: sha256:03159c0790ab2fe652bd94a62f1487536bd6fabf68405874476e1cb9994ce3d2 Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. Paragraph [230-10-15-4](https://asc.understandingaccounting.org/asc/230/10/#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 that other [employee](https://asc.understandingaccounting.org/glossary/e/#employee "A person who has rendered or is presently rendering service.") 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. 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). #### Interests in Master Trusts ##### [205-960-45-7](https://asc.understandingaccounting.org/asc/205/960/#205-960-45-7) Pending content: no Source downloaded (UTC): 2026-09-09T22:56:49.018Z to 2026-09-09T22:56:49.018Z Record version: sha256:34f953d492f9c99a643015ffe94a7bb219d4c41221ea241f83487376bd479b27 Snapshot version: sha256:15aea8165dff9f5ae47d9484f8470588b13b307f56e1d50801bf4d85ec190e3f Effective as of: not established by retrieval timestamps. 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 statement of changes in net assets available for benefits, respectively. See Section 960-325-50 for master trust disclosures.