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A Christian School sponsored 403(b) plan filed a 5500SF.  The plan has over 100 participants.  They indicated on the form they didn't purchase a fidelity bond. 
They have determined they are a 3121(w)(3)(a) organization and should not be covered by ERISA.  What measures can they take to stop filing 5500.  In addition, are they still required to perform an audit?

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Amend the prior 5500 to indicate that it is a final return.  Include an attachment that says the plan is not covered by ERISA and no further filings will be made.  I had this situation before (about 4 years ago) and this is what the DOL told me to do.  We never had a problem with the DOL since.

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