MBCarey Posted September 12, 2003 Posted September 12, 2003 I just learned that one of our plans with a plan year end of 3/31 was changed in 2002 to a plan year end of 12/31. necessitating a short plan year 5500 filing. Can someone tell me what the guidelines are for the filing deadline for the short plan year.
WDIK Posted September 12, 2003 Posted September 12, 2003 One place is on page 4 of the Form 5500 instructions. ...but then again, What Do I Know?
Guest jashendo Posted September 12, 2003 Posted September 12, 2003 Same as for a full year -- end of the 7th month following plan year end.
MBCarey Posted September 12, 2003 Author Posted September 12, 2003 If the client has an extension to file his taxes can that be used for an extension for the 5500 as well? I though I heard this somewhere?
Guest jashendo Posted September 12, 2003 Posted September 12, 2003 Yes; sort of. But in order to qualify for that automatic extension, the plan year must be the same as the employer's fiscal year for which it has the extension. That's not the case here, is it? (Plan year is 4/1 - 12/31; is that the fiscal year as well?)
MBCarey Posted September 12, 2003 Author Posted September 12, 2003 No that's not the case. I guess I am stuck with a late filing. Right?
Guest jashendo Posted September 12, 2003 Posted September 12, 2003 Seems so. You should check into The Delinquent Filer Voluntary Compliance program. You'd save alot in penalties.
Lynn Campbell Posted September 17, 2003 Posted September 17, 2003 Did the client actually change the Plan Year or just decide that the Plan Year had changed? Were there documents amending the Plan accordingly?
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