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Well they must have processed a bunch of 5558s recently because it seems a lot of folks are getting notices. Assuming you have proof of shipment and delivery, get a POA on at least one of the cases, and call until you get through. I probably re-dialed 50 times the last time and I finally got put on hold instead of disconnected. After you get through, you plead your case (with prof of timely shipment) and you explain that you sent them bulk and would like to provide a list rather than deal with 150 POAs. Depending on circumstances, they should let you fax a list or send a list on electronic media. The last electronic media I sent was in October of last year, and it wasn't processed until April... They are ware of these issues those so most of the folks will be pretty understanding and will find a way to help. Must haves before you call to avoid a wasted 3 hour call: - POA - Proof of mailing the 5558

i stand corrected. my initial response above was incorrect. the 5 year period under the facts described does start over. apologies.

Thank you so much, Bill, for putting me on the right track.

I agree with Mike, that would be a cutback. However, the trustees have, or should have, the ability to declare a special valuation date at any time in order to protect the (other) participants' interests.

Thanks, that's what we had decided to attempt. I'm hopeful as we do have proof of shipment for these, just not something we want to deal with on October 5th!

411d6 is an issue.

I agree with Bill Presson. Not only should there be some "administratively feasible" language but point the participant (and the client) to the claims procedure in the SPD...it should say something about 90 days, and then another 90 days if the plan says so. A shrug of the shoulders and a "so sue me (the sponsor)" is all you/they can do really. We deal with participants directly a lot but of course there's a point where you explain that the plan sponsor is the Plan Administrator and you're cutting off direct communication because you don't get paid enough for the agg. If the client is the one badgering you then you explain it to them as you did to us and offer to pay out a reduced amount and then the balance, for two fees.

What does the document actually say? Most say something like "as soon as administratively feasible" following termination of employment. So if it's not administratively feasible to pay her until the 2020 is done, then tell the employer to tell her to wait. Someone has to be willing to take a little heat here and not cave.

How much is the difference? IS this a small plan filer? If an SF, and if the amount is small, I'd just adjust the earnings for 2020 (or 2021 if '20 has already been filed), make a note in the file an move on.