cpc0506 Posted August 24, 2010 Share Posted August 24, 2010 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? Link to comment Share on other sites More sharing options...
John Feldt ERPA CPC QPA Posted August 25, 2010 Share Posted August 25, 2010 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. Link to comment Share on other sites More sharing options...
Guest jerickjames Posted September 27, 2010 Share Posted September 27, 2010 I agree the statement above,in every plans there must be a commitee to handle every plans. http://chooseoutdoorkitchens.com http://chooseoutdoorkitchens.com/outdoor-k...chen-store.html Link to comment Share on other sites More sharing options...
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