Compliance March 24, 2010

DoL Expands on EFAST2 Info

The U.S. Department of Labor (DoL) has updated its frequently-asked-questions site dealing with EFAST2, the DoL electronic filing system for Form 5500 and related documents.
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The new questions – and answers – deal with electronic filing of annual benefit plan reports related to delinquent or amended return/reports, retrieving e-mail messages possibly lost in spam filters, and time zone requirements for meeting the filing deadline.

Filers cannot use the Form 5500-SF (short form) to file 2008 or prior year late or amended return/reports, the department said in FAQ4a. The current Form 5500 must be used consistent with the directions provided in FAQ4, it said.

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For plan year 2008 filings or amendments, filings of prior Form 5500-EZ “must use the correct prior year paper version only and must file it with the Internal Revenue Service,” the department said.

The FAQs are at http://www.dol.gov/ebsa/faqs/faq-EFAST2.html.

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