PWBA request for more information

[Guest Barge Girl]

I received a request from the PWBA to correct a problem with the most recent 5500 filing for a DB plan. As usual, we have 30 days to respond to their request.

As I reviewed the filing, I pulled previous 5500s for the plan to compare, and I realized that I may found a "can of worms" that goes back several years. I need to work with our actuary and our ERISA attorney to decide how best to proceed.

In the meantime, I am writing a letter to the PWBA reqeusting an extension of time to answer their question. I would like some advice on composing this letter. In the past, I have requested extensions of time and specifically asked for an extra 30 days and the IRS has been amenable.

I'm not sure if I should ask the PWBA for a certain period of time to respond, or if I should just ask for an extension wtihout naming a deadline? I'm not sure how long it will take us to sort out the problem; and if it takes longer than 30 days, would it be ok to ask for another extension?

Also, I'm not sure how to word the reasoning for the request of extension. If I simply ask for an extra period time and say "so that we may consult with our enrolled actuary and ERISA attorney" is that okay? I don't want to allude to what the problem may be because I'm not even sure yet that I'm correct.

Any thoughts are appreciated! Thank you!

[KJohnson]

My experience is that the DOL does not give extensions with regard to this initial letter. You might, however, get one or more additional demands prior to a formal rejection of the 5500. Once rejected I believe that the regulations still allow you 45 days to "cure"