DPSRich

Has anyone who filed their 2009 5500-SF Form through Relius Web Client and received the following acknowledgement Current Status: Filing_Received then had their client (former client) receive a letter stating that they never filed? Any help that you can provide on this issue will be greatly appreciated. Thanking you in advance to all of those who respond. DPSRich

Could you please advise what states the restrictions refer to. Thank you for your help. DPSRich

Another 8955-SSA Question. Final Form 5500-SF filed in 2011 for 2010 Plan Year. Technically Plan has been closed out. Is anyone filing an 8955-SSA to report Participants who have been paid their vested entitlement Code D, who were previously reported as Code A? Would this open the Plan to a new statute of limitations? Yes I realize that it is only for 1 year. Final Form 5500-SF filed in 2008 for 2007 Plan Year. Technically Plan has been closed out. Is anyone filing an 8955-SSA in this situation to report Participants who were paid their vested entitlement Code D, who were previously reported as Code A? Would this open the Plan to a new statute of limitations? The 3 year statuate has already run out. Any help is greatly appreciated. Thanks. Richie

Andy: That was my thought, but I wanted to be sure that I was in the majority. Thanks DPSRich

Happy Thanksgiving to All! Owner and wife are only Plan Participants in a D.B. Plan. Son enters the Plan as an owner with more than 5% voting stock. No contributions to Plan as Plan is overfunded. Owner is 89 and is receiving his Required Minimum Distribution(RMD). Owner dies and spouse continuing to receive her husband's RMD as well as her own. Wife (age 92) dies in February 2011 and son as the named beneficiary of each (mother and father) receives both RMD's. Question: Are both R.M.D.'s reportable on Form 8955 SSA? Actuary says no. Any thoughts. Thank you. DPS Rich[/size]

Was reported, just not reversed.

Thank you for replying. Yes, I mean't reversal, I wasn't clear. The owner was not the terminated participant back in 2007 when we filed the 5500 and accompanying Schedules I, R, SSA. But we now only have the owner in the Plan and we have been filing a 5500-EZ. Does that change your answer? Thanks again.

Two questions: 1- If a client was previously filing a full 5500 (had other plan participants), but now the only participant is the owner, therefore filing a 5500-EZ, is still necessary to reverse this participant? 2- Participant reported in 2000, paid out in 2001. Since it was volunatary to reverse the participants back then, is it necessary now to reverse this participant 10 years later? If so, how far back do we go? Any help or guidance would be greatly appreciated. Thank you. DPSRich

On the IRS Website this morning is the newly released 2010 Form 8955-SSA. Are we still allowed to file using paper? I tried clicking on instructions by got an error message "not available". Any help would be greatly appreciated. Thanks. DPSRICH

I just used Hurricane Irene - Tax Preparer. I have no idea if it will fly. Good Luck! DPSRich

Doing a 2009 and 2010 combined form. Only have 1 Participant to report under Code D as the Plan is now closed out as all other Participants have received their distributions. Final 5500-SF already filed. Question: Do I enter the Code D Participant under line 6b, since I am voluntarily reporting this Participant? Any help will be greatly appreciated. Thank you. DPSRich

What will happen if I answer no on Schedule R? Have you ever answered no for a non publically held company and it produced an audit.

Small closely held S-Corp has an ESOP plan. Common stock of plan sponsor is not publically traded. What is the tax consequence of answering “NO” to question #12 on Schedule R-Form 5500, “Does ESOP hold stock not readily tradable on established securities market?” Thank you. DPSRich

Revised Form 5558 posted on IRS this morning. Good Luck. DPSRich

I totally agree with Tom. Made the switch at my day job. Very simple. Contemplating making the switch for my personal clients also. DPSRICH

Just got an email from Relius, 5500-EZ now available

Ft William has it up and going. DPSRich

Form 8955-SSA and Instructions were released on Saturday. Seems pretty straightforward. Only thing I notice is that there will be a different zip code for mailing in the 5558, whenever that form is released. If I am missing something, please advise. Thanks. DPSRICH

Thank you.

Does anyone know when the 2010 5500-EZ will be available? I have several clients that are both short years (Plan terminated and assets rolledover) and full year Plans (administration completed) that I am ready to complete 5500-EZ's for. Any help would be greatly appreciated. Thank you.

Haven't heard anything, but am wondering how long it is taking for the employer to get an approval letter back on an extension for the 2009 year.

Can a Third Party Administrator who is neither an enrolled agent or holds a Power of Attorney, obtain a signed authorization from the client along with the signed 5500-SF and submit the form by obtaining author credentials? Would it help to obtain a Form 8821 also signed by the client? The I.R.S. does not recognize my rep# as an unenrolled preparer. Your advice would be most helpful. Thank you. DPSRICH

Has anyone heard anything about the release of a new 5558? We are waiting to hear before filing extensions for 12/31/09 Plans. Thanks. DPSRICH

Hi: Form 5500-EZ was released on Saturday. It appears that one MUST go on the I.R.S. Website and type in the info directly from their site, then print it out and mail in. From what I have interpreted Relius and other software vendors will not be making the form available per the 5500-EZ instructions. Am I understanding this correctly? Your comments, please. Thank you.

If the letter comes from the I.R.S. for a 5500 (not an EZ), you are still eligible for the DFVC program. If it comes from the DOL then you are not.