Guest RONNIE WASEL Posted January 30, 2004 Share Posted January 30, 2004 I know that you do not have to file a 5307, but when is it typically due? I.E., I recall something like the plan year following the plan year in which you amend the plan? Thanks, Ronnie Link to comment Share on other sites More sharing options...
Archimage Posted January 30, 2004 Share Posted January 30, 2004 I don't believe the instruction to the 5307 give this information because there is no due date that I am aware of. Link to comment Share on other sites More sharing options...
chris Posted January 30, 2004 Share Posted January 30, 2004 REgarding the January 31 deadline for "late" amenders, I believe the IRS published guidance recently that stated that determination letter applications postmarked Feb. 2 would be considered timely. In the case of an employer that adopted a volume submitter document with no changes who just wanted to get a det. ltr for comfort's sake I would think the 5307 should be submitted as soon as reasonably feasible to get it prepared and submitted. Otherwise, if a plan was adopted, e/er took deductions for contributions, and the 5307 was submitted 3 years later and the IRS for whatever reason found a problem with the plan, then there would be a number of issues to work out....??? Link to comment Share on other sites More sharing options...
E as in ERISA Posted January 30, 2004 Share Posted January 30, 2004 Under 401(b), the remedial amendment period would generally end on the due date (with extensions) for the employer's tax return for the year in which the amendment occurred. It's my understanding that you need to file the Form 5307 by that date if you want to extend the remedial amendment period further. Link to comment Share on other sites More sharing options...
E as in ERISA Posted January 30, 2004 Share Posted January 30, 2004 Of course, if you only want the ruling to apply prospectively, then there is no deadline and you don't need to file within the original remedial amendment period..... Link to comment Share on other sites More sharing options...
Recommended Posts
Create an account or sign in to comment
You need to be a member in order to leave a comment
Create an account
Sign up for a new account in our community. It's easy!
Register a new accountSign in
Already have an account? Sign in here.
Sign In Now