Guest R. Daestrom Posted January 13, 2003 Posted January 13, 2003 A client is terminating his 2 life MP plan termination and filing form 5310. He insists on doing it himself. He printed the forms from the IRS website. Can he simply file fr determination letter using these forms, or does he have to use those special forms with "pink" or "red" type that are scanned? I normally use software for these filings but but I recall that years ago, the first page would be scanned and hence, the special forms are needed. Any ideas? Thanks.
david rigby Posted January 13, 2003 Posted January 13, 2003 Your reference to scanned forms is probably the Form 5500. As you state, the 5310 and instruction can be printed from the IRS website. Just fill it in. BTW, if he "insists on doing it himself", why is he asking your help? I'm a retirement actuary. Nothing about my comments is intended or should be construed as investment, tax, legal or accounting advice. Occasionally, but not all the time, it might be reasonable to interpret my comments as actuarial or consulting advice.
mbozek Posted January 13, 2003 Posted January 13, 2003 The IRS never developed the software/scanners necessary to process the information from the pink type sheets and routinely discards these pages from submissions. mjb
Guest R. Daestrom Posted January 13, 2003 Posted January 13, 2003 I guess he's terrified of how much I would charge for doing it for him (as if a couple hundred dollars for a 4 life plan is so outrageous). So, I'm getting "piece-meal" questions from him instead. This particular one about the form was one that I thought of though. Thanks for the information.
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