Account Balance

L1: Account BalanceI have a question regarding the account balance amount to use for SEPP IRA Plan. From what I remember, one should use the account balance as of the last day of the previous month [so there is document to prove the balance].
My dilemma is as follows: [Note: I have used April as just an example, as the real month will be either May or June ’03.] I have my IRA with a major investment company and the account’s monthly statement shows an account summary that states a “Ending value as of April 30 [e.g.] is X”, but this month ending value does not include an amount that was earned during the month of April [in this example] [as this major investment company doesn’t actually run the fund, but allows one to purchase into the fund, so the amount earned in April doesn’t get reflected in the beginning value due to a timing issue]. This additional earned amount for April can be determined by examining the account’s history via the web of the account’s history 3-5 days after the beginning of May. The account’s history shows the amount earned in April with a date of April 30 as to when it was earned.
Therefore, I believe the correct account balance amount to use for the SEPP Plan starting up in May [for example] would be the addition of the (1) Ending value as of April 30 [from the account’s monthly statement] plus the (2) amount earned in April [from the account’s history].
Is this a correct way to determine the account balance amount?
The important thing that I would need to do is run a copy of both account summary and account history to show how the SEPP account balance was determined.
Any additional comments/suggestions.
Thanks for your help,
Roger2003-05-23 15:23, By: Roger, IP: [127.0.0.1]

L2: Account BalanceHello Roger:
I think what you are essentially saying is that @ xx/30/03 you account has accrued but unpaid interest & that you do not know the value of this amount for 3-5 business days into the next month.
As a result, for the purposes of establishing an opening balance for a SEPP computation, I think either balance would be fine.
TheBadger
wjstecker@wispertel.net

2003-05-23 15:38, By: TheBadger, IP: [127.0.0.1]