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Church Plan and Form 5500


cpc0506
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We took over a 401(k) for a catholic high school associated with a local parish that has been filing a 5500 since 1998(?). They are going to need an audit for 2009. We don't believe that they ever filed a 401d election. Any way out of filing the 5500 for 2009?

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Probably. If they truly never made a 410(d) election, they never had to file (were they paying someone to do all of those filings?). If they did make an election, then they must continue to file. Such an election would have either been made along with a determination letter filing, or as an attachment to one of the earliest Form 5500's.

You may need to explain to the client that the IRS/DOL may send a notice saying "your 5500 is late" sometime after they realize the plan is no longer filing a 5500, but you can tell them you have a letter ready to send back to the IRS/DOL to explain that the sponsor is exempt from filing because they are a church and they have not made an election under IRC 410(d) to be covered by ERISA.

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