Jump to content
Pammie57

Form 5558's

Recommended Posts

Does anyone know of a reason that we cannot mail several 5558 forms in one envelope? we mail them certified.    WE have about 10 clients who need an extension of their 5500-SF and 5500. 

Share this post


Link to post
Share on other sites
13 minutes ago, Pammie57 said:

Does anyone know of a reason that we cannot mail several 5558 forms in one envelope? we mail them certified.    WE have about 10 clients who need an extension of their 5500-SF and 5500. 

Who says you cant mail them in one envelope?  Its common practice and as far as I am aware there is nothing in the instructions that prohibits it.  You just have to list each plan on a separate 5558 and while many include a list of the plans included for record purposes the IRS will either toss or return it.  

Share this post


Link to post
Share on other sites

We send all of ours out in one batch/envelope with a list, and have never had any questions or problems.

Share this post


Link to post
Share on other sites

anyone ever have an issue with the actual delivery?  I sent eight of them out certified (in one package) on July 12th and have USPS tracking through July 22nd that says "package is enroute through the delivery system".  No updates after that.  The package was in Salt Lake City on July 18th according to the tracking.  Just seems like its been way too long and it should have been there by now so I'm wondering what others have found?

 

 

Share this post


Link to post
Share on other sites
1 hour ago, pmacduff said:

anyone ever have an issue with the actual delivery?  I sent eight of them out certified (in one package) on July 12th and have USPS tracking through July 22nd that says "package is enroute through the delivery system".  No updates after that.  The package was in Salt Lake City on July 18th according to the tracking.  Just seems like its been way too long and it should have been there by now so I'm wondering what others have found?

I have never had that issue with filings before, but I have had that issue in the past.

As it was somewhat recently explained to me by the folks at USPS, tracking is done by scanning at each stop on route to the final destination.  The barcodes sometimes get messed up and which means that it does not get logged at the stops or final destination.  The problem is that it is also possible that the item has been lost.  There is no way to know without further investigation which includes USPS contacting the recipient at the final destination.  It is a loooooooong process.

With time remaining, I would send a new batch.  Even if both get there it wont be a problem.

Share this post


Link to post
Share on other sites

Our firm also sends them in batches. 

The few times we have had a client get called on the extension we send the cover letter with that client's name listed and proof of mailing and the IRS backs down every time. 

Although since you do have time to re-send I don't see any harm in a re-send.  

Share this post


Link to post
Share on other sites

one envelope, no list, 30 years, no problem.

Many problems with return receipts from IRS - never get them.

Share this post


Link to post
Share on other sites

We send ours in one FEDEX batch and retain the FEDEX proof of delivery.

Share this post


Link to post
Share on other sites

I send mine in batch every year, either overnight or 2nd day, return receipt requested.  I enclose a list of Sponsors and EINs.  We all know Murphy.

I sent some extension out early for 7/31, certified, return receipt.  Received the card back, no stamp for date received or signature.  Mail carrier told me I should go online to track - the card had been stamped received and signed.

Share this post


Link to post
Share on other sites

Still haven't received confirmation of the first batch but did resend those extension with the July 31st batch.  Have another question, though, I seem to recall a few years back when the extensions were filed late in July that the IRS did not get them timely to the EBSA.  Some of our clients that were filed in early August got a letter from the EBSA that the filing was late.  I know they can prove the extension was filed, but my question is do others wait a certain amount of time into August to file to be sure the extensions are on record and have been shared by the IRS with the DOL (EBSA)?

Share this post


Link to post
Share on other sites

Yes.  I generally wait at least 4 weeks between the 5558 and 5500.  Its just a PITA to deal with incorrect "late 5500" notices when you can just delay the filing.

Share this post


Link to post
Share on other sites

That's why we like to do them by the end of June, the latest.  No harm in sending one in but filing before the original deadline.

Share this post


Link to post
Share on other sites

BG5150 - I agree - and usually do all of mine in June - but this year things got hectic!  Then when the batch I sent certified in mid-July was never confirmed I resent them with others that someone else in the office was sending on July 31st.  Next year plan to make extra effort to do them in June again :)!

Share this post


Link to post
Share on other sites

Yea I usually do mine at least a month before due date as well.  I know a few firms that do them in February :)

Hectic must have been an industry trend this year.  I got caught up in a merger and ended up filing extensions the week of July 31 for the first time in many years

Share this post


Link to post
Share on other sites

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 account

Sign in

Already have an account? Sign in here.

Sign In Now

×
×
  • Create New...