2001 5500 forms?

[Guest BillClinton]

When are they going to be ready? My software provider keeps telling me that the DOL has not approved them yet. The DOL told me they were going to be ready by mid April.. anyone knows what's going on?

Thanks

[Guest LVanSteeter]

We use Relius and have received the disc for both the forms and the SAR (about mid April).

The forms were approved months ago.

You might want to mention this to your software provider.

Good Luck!

[Guest tcunagin]

We use ProSystems and the final version was released around the middle of April.

[Guest BillClinton]

Thanks guys. We use RIAs GoSystems RS. I mentioned to them that other software vendors have had their 5500s available for about a month and they are still in denial telling me that the forms were just recently approved a couple days ago and will be made available next week.

Tip: Don't use GoSystems RS. If it was up to me, I would have gotten rid of that program long ago.

[Guest LVanSteeter]

It sounds like whomever is in charge of choosing software needs to re-evaluate that decision. Even getting the software in Mid-April can cause a time crunch in meeting the filing deadline.

If the costs are similiar, I would probably pitch a change in software vendors.

[Guest SPOT]

Bill,

I believe that each software vendor has to have their machine readable forms approved by the PWBA or IRS? We use Relius, and have had the forms for a couple of months. It sounds like your software vendor is at the end of the line for approval. Maybe next year they can be ahead of the game and get their forms in earlier for approval.

[Guest bgackle]

Mr. Clinton:

The 1-D barcode (hand print) version of the 5500 for GoSystem Tax RS and e-Form RS was approved by the DOL on 3/20/2002. The form has been available to our clients since 3/22/2002.

The 2-D barcode (machine print) version was approved by the DOL on 5/8/2002.

Both versions are accepted for filing by the DOL.

Please send me an email directly, and I'll be happy to forward to you our approval letters from the DOL.

If you have further questions regarding GoSystem Tax RS or e-Form RS, please contact me directly.

Sincerely,

Boyd Gackle, CPA

Product Marketing Manager

RIA

boyd.gackle@riag.com

972-250-7189

[Guest Robin Vatalaro]

Noone asked but here's my two cents - I am a CPA who is also a TPA and I find that the pension-specific software companies, like Datair, usually have their software approved and available faster than do the tax software companies, like what you use, Creative Solutions that I use, etc. This is because the tax software companies must focus on 1040's, 1065's, 1120's, etc before anything else. One deadline at a time.

[PhilB]

I have heard that the 5500 paper forms have been deliberately delayed to encourage more companies to file electronically. I also use Relius and had loaded the new software at the end of March.

[Guest Robin Vatalaro]

PhilB - that's interesting - Joe Canary at the PWBA said (in San Diego on May 29th) that there was a problem w/ getting the special "drop out" ink from the supplier hence the delay.