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I've been so concerned about getting stuff out the door that I entered the monkey-see-monkey-do mode. As such, having gotten caught up, I've paid a little more attention to reading the crud I'm now required to proudly disseminate. Here is the boiler-plate acknowledgment for receipt of the client's authorization to file his 5500 in his behalf:

PART II - Acknowledgement of Receipt of Authorization

On behalf of Potrezebie Consulting, I hereby certify that the firm will use the authority granted only for the express purposes described above; that the firm will not disclose confidential information to any parties other than the DOL, as required for EFAST filing; and that the firm will take reasonable steps to assure that confidential information provided by the Plan Administrator or Plan Sponsor is protected from unauthorized disclosure.

It finally occurred to me that the information being provided and to which I am swearing on my grandmother's grave that I will not disclose, will be posted on the DOL website and become public record. In such case, what constitutes "unauthorized disclosure" and what are the reasonable steps I must take? I'm unsure but in good faith, I've decided not to divulge my middle name to Mike Preston and David Rigby.

The material provided and the opinions expressed in this post are for general informational purposes only and should not be used or relied upon as the basis for any action or inaction. You should obtain appropriate tax, legal, or other professional advice.

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But you posted your middle name for all to see. You have the same middle name as Smokey the Bear.

Told ya I've been simply going through the motions. Thanks for the correction.

The material provided and the opinions expressed in this post are for general informational purposes only and should not be used or relied upon as the basis for any action or inaction. You should obtain appropriate tax, legal, or other professional advice.

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My middle name is "middle".

Or maybe it's "muddle".

I'm a retirement actuary. Nothing about my comments is intended or should be construed as investment, tax, legal or accounting advice. Occasionally, but not all the time, it might be reasonable to interpret my comments as actuarial or consulting advice.

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Next thing you will tell us that the "of" was extraneous and actual title of the song was "On Top Old Smokey."

The material provided and the opinions expressed in this post are for general informational purposes only and should not be used or relied upon as the basis for any action or inaction. You should obtain appropriate tax, legal, or other professional advice.

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Guest Sieve

My first name is sometimes thought to be the same as ATA's middle name . . .

To go off on a tangent--i.e., to address the issue in your OP--as long as your cover letter, whatever, indicates that the DOL will post the 5500 on a public website, you still are saying that you will disclose this info (if confidential) only the DOL, and the DOL then does with it what it does (which you hopefully have explained to the client). But, third parties (other than DOL) get nothing from you.

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But, third parties (other than DOL) get nothing from you.

Which begs the question, "Why would they want it?" Thanks for the explanation. So, I guess this means if you send the auditor a copy of the 5500 after it is submitted to EFAST that you are in violation?

The material provided and the opinions expressed in this post are for general informational purposes only and should not be used or relied upon as the basis for any action or inaction. You should obtain appropriate tax, legal, or other professional advice.

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Guest Sieve

Did you have the same cover letter prior to EFAST? What would you have given the auditors then? Would you have sought permission from the client to give the 5500 to the auditor prior to EFAST? Post-EFAST, if the client knows of the public disclosure, I'd argue that you are not disclosing confidential info after the DOL posts. I'd still think you'd want specific or blanket authority to disclose info to auditor--or direct them to the DOL website.

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The DOL going after someone on this basis would be analogous to Monica Lewinsky suing the tabloids for reporting what she said in her TV interview with Baba Wawa.

The material provided and the opinions expressed in this post are for general informational purposes only and should not be used or relied upon as the basis for any action or inaction. You should obtain appropriate tax, legal, or other professional advice.

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Guest Sieve

But I thought you were concerned about your own liability. Therefore, what your agreement states, and what you revelaed to the client, are the only real issues, I'd think.

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I apologize if I'm missing something and making a serious response in the humor column.

But isn't the EFAST2 User ID and PIN belonging to the Plan Administrator/Sponsor the confidential information referred to here?

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I apologize if I'm missing something and making a serious response in the humor column.

But isn't the EFAST2 User ID and PIN belonging to the Plan Administrator/Sponsor the confidential information referred to here?

But I don't have this information because there is no such information because I am submitting in behalf of the client who may not even own a computer let alone has any computer savvyness. So, if what you're suggesting is the case, I would be certifying that I won't share my ID or PIN.

The material provided and the opinions expressed in this post are for general informational purposes only and should not be used or relied upon as the basis for any action or inaction. You should obtain appropriate tax, legal, or other professional advice.

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