Amended 5500

[Ervin Barham]

I need to file an amended return for a 12/31/00 return. Anyone know how long it takes the PWBA to process these returns or how I can "confirm" the processing of the original as per the instructions?

If I missed an instruction somewhere, let me know that, too!

Thanks.

Ervin Barham

[david rigby]

Why not just do it, mark as amended, etc? If you know the original was properly mailed, is there an important reason to know the status of the original form?

[Ervin Barham]

Just trying to follow the wonderful instructions! In years gone by, that's exactly what I would have done- will probably go ahead anyway...

Thanks.

[Kristina]

OK. Now hang onto your hats.

I have seen where the DOL says do not file an amended return until you have received their deficiency letter or until you know the form you filed has been processed.

1) Using this logic, they apparently decided that the only reason you would want to file an amended return is for a deficiency that they would find. Mistakes in the data or misunderstanding in the way a schedule is to be completed has not really entered their minds.

2) The EFAST letter of deficiency in filing is the only way you will know for sure that your forms were processed until the forms are reported to the Office of Public Disclosure.

My conversation with the EFAST people netted this as a guideline for the filing of amended returns.

a) If the forms you want to amend is the 1999 year, call the Office of Public Disclosure (202/219-8771) to determine if the 1999 forms you filed have been processed. If so, then file your amended 1999 forms.

b) If the forms you want to amend is the 2000 year, wait for the earlier of:

i) The receipt of the EFAST deficiency letter, or

ii) March, 2002 (When the 2000 form processing should be complete.

You could just go ahead and file the amended return and it would probably be processed after the original filing. The question is if there is a deficiency letter generated by the original filing and the amended return does not address that deficiency, it sounds as though the DOL then considers your filing to be truly deficient and subject to penalties. I guess they never thought that someone would find their own mistake and want to correct it.

Further proof that EFAST means fast for them and has nothing to do with client relations.

[Ervin Barham]

Typical convoluted govmint logic...

My problem is that this is a terminated plan and by March, 2002 not only will there be a final 5500 filed, but the employer will no longer exist.

Thanks for the guidance...

[Kristina]

Due to the unusual circumstances surrounding your situation, I would say to go ahead and file the amended return with an attachment explaining why you are filing before the 2000 form has been processed.

As an attachment, your explanation will be scanned into their records so they will have no excuse for trying to collect for imcomplete filings without going thru their process.