IRS Pension Plan Form Fun

My brother-in-law manages his own pension-funding company, helping small to middling businessmen to develop and maintain retirement programs for themselves and their employees.  Needless to say, it has not been a banner year for pension-funders or their clients.  But of course the appropriate forms must be completed and  filed with the IRS.

In the course of completing IRS Form 5500 Schedule I question 4f regarding his company pension plan, a wry client was faced with the following question:

"Did the plan have a loss, whether or not reimbursed by the plan's fidelity bond that was caused by fraud or dishonesty?"

The client circled "Yes" but these yes-or-no questions on the government tax form require an explanation if the answer is yes.  In the space provided for explanation the client had cryptically printed:

"Barney Frank, Chris Dodd, Chuck Schumer."

QED

Hat tip:  Ed Ferguson
My brother-in-law manages his own pension-funding company, helping small to middling businessmen to develop and maintain retirement programs for themselves and their employees.  Needless to say, it has not been a banner year for pension-funders or their clients.  But of course the appropriate forms must be completed and  filed with the IRS.

In the course of completing IRS Form 5500 Schedule I question 4f regarding his company pension plan, a wry client was faced with the following question:

"Did the plan have a loss, whether or not reimbursed by the plan's fidelity bond that was caused by fraud or dishonesty?"

The client circled "Yes" but these yes-or-no questions on the government tax form require an explanation if the answer is yes.  In the space provided for explanation the client had cryptically printed:

"Barney Frank, Chris Dodd, Chuck Schumer."

QED

Hat tip:  Ed Ferguson