From 990 and From 5500

[Guest LVanSteeter]

I know that if a plan files a Form 990 they may be eligble for another month on the Form 5500, until November 15th, but I can't find the citation.

Any help?

Thanks!

[Guest KFM]

Have you checked the Instructions to the Form 5500?

I know that they are quite lengthy, but if my memory is right, there's a provision near the front that is entitled "When Do I Have to File" (or some similar title) tha might provide the answer.

[saabraa]

It's probably the same provision that applies to for-profit businesses. If the entity year and the plan year have the same year end, and if the entity has an extension for filing its tax return (or 990), then the due date for the 5500 runs with the extended due date of the tax (or 990) return. All I could find was a reference in the 1.6058 IRS regulations referring you to Form 5500 instructions for time and manner of filing. The 5500 instructions speak of the extension related to extended TAX returns, but I didn't see a similar reference in the 5500 or 5558 instructions for tax exempt filers of the 990. I'm assuming the same rule applies. Finally, going back to my school days, no fewer than 12 instructors had a warning about assuming, which I choose not to remember.

Taking a much more conservative position, you're on safer ground if you're filing an extended 990-t for a plan sponsor who also has the same fiscal year end as the plan. Since the 990-t is a tax return, it definitely meets the specs in the f 5500 instructions.