Further Extension for Affected Areas?

[Guest J_Cira_70]

Because of the horrific tragedy on Tuesday, does anyone know if the DOL-PWBA plan on granting extensions past 10/15/2001 for anyone in an affected area? I know the IRS has just released notice 2001-61 allowing this for extended corporate and individual returns. However, I was uncertain if the DOL was prepared to take a stance.

[Guest KTigges]

I understand that the PWBA is suppose to be posting information relative to the filing deadline today on their home page (www.dol.gov/dol/pwba). That's all I've heard.

[Guest Emiliano]

Whom: For those located in the affected areas and for those located outside the disaster areas who are unable to obtain the information necessary for filing.

For filing Deadlines from 9/11 through 11/30: six months plus 120 days additional time to file.

For those currently on extension that expires between 9/11 and 11/30: an additional 120 days to file.

Filers who have difficulty meeting deadlines because of disruption in transportation and delivery of documents (other than those mentioned above) will have until 11/15/01 to file.

[Kristina]

Per Brian Graff of ASPA, Notice 2001-61 does not address the filing deadline of the 5500 series or the timely deposit for 401k deferrals.

If you or your client have not been directly impacted by the tragedy, then do not count on an extension in the filing deadline for the 5500 series so that you will not be late with the 5500 forms you still need to file.

Don't count on the DOL being understanding on late deposits of 401k deferrals which occurred before 9/11/01. I would expect the DOL to provide relief for those directly impacted by the tragedy from 9/11/01 thru the date that the financial records can be straightened out (whenever that is).

[Guest Factster]

DATE: Sept. 14, 2001

Release No. 01-36

U.S. DEPARTMENT OF LABOR EXTENDS DEADLINE FOR EMPLOYEE BENEFIT PLAN FILINGS AND PROVIDES OTHER ERISA COMPLIANCE GUIDANCE

The U.S. Department of Labor™s Pension and Welfare Benefits Administration today announced an extension of the deadline for filing Form 5500s and Form 5500-EZs, and issued general guidance on ERISA compliance regarding employee benefit plans

affected by Tuesday™s national disaster.

EXTENSION OF FORM 5500 SERIES DEADLINE

The U.S. Department of Labor™s Pension and Welfare Benefits Administration (PWBA), the Internal Revenue Service and the Pension Benefit Guaranty Corporation today extended the deadline for filing Form 5500s and Form 5500-EZs.

The extension applies to plan administrators, employers and other entities who file the Form

5500 and Form 5500-EZ that are located in the areas designated as federal disaster areas because

of the September 11, 2001 terrorist attacks. The extension also applies to filers located outside

the designated disaster areas who are unable to obtain the information necessary for filing from

service providers, banks or insurance companies whose operations are directly affected by the

disasters.

Under the extension, those with filings originally due between September 11, 2001, and

November 30, 2001, will be allowed an additional six months plus 120 days to file. Filers

currently on an extension that expires between September 11, 2001, and November 30, 2001,

will be allowed an additional 120 days to file. Filers who have difficulty in meeting filing

deadlines because of disruption of transportation and delivery of documents by mail or private

delivery service resulting from the disasters, and who do not otherwise qualify for the extensions

described above, will have until November 15, 2001 to make their Form 5500 and 5500-EZ filings. Please note that these extensions cannot be extended further by filing a Form 5558.

[Kristina]

Factster, Thanks for posting this. I saw it after I posted my comments.

Am I the only one who wonders why the DOL, PWBA seem to release their press notices so late on Fridays????????