Amending 5500 and Schedule B

[Andy the Actuary]

Form 5500 instructions don't seem to help on this one.

Calendar year DB plan with under 100 participants. 2007 5500 filed by July 31, 2008. 2008 PBGC due 4/30/2009 and not yet filed. Client recently informed that on Sept 1, 2008 made significant contribution. If this contribution is counted for 2007, then no variable premium would be payable for 2008; otherwise, variable premium payable.

Question: Is it still permissible to amend 2007 5500 and Schedules B and I to include September 1 contribution? If so, will signing the schedule B on 12/26/2008 cause a rejection? If so, what are the legal alternatives (e.g., sign original date and attach explanation)? How late can a 5500 be amended? I know that upon IRS audit we've submitted amended 5500s long after the filing due date.

Hard to believe I've never done this before but I've never done this before!

[tymesup]

Perhaps this is covered in the PBGC instructions and refiling the 5500 is unnecessary?

Enjoying the holiday weekend, too?

[Andy the Actuary]

Perhaps this is covered in the PBGC instructions and refiling the 5500 is unnecessary?

Enjoying the holiday weekend, too?

Thank you. We can certainly claim the contributions for PBGC. I suspect your saying that they can be shown on line 2a of 2008 Schedule SB without having claimed them as a contribution on the 2007 Schedule B? If this is so, then we wouldn't need to amend the 2007 Schedule B. Agreed?

So, thank you for answering that question. Suppose we wanted to amend the 2007 Schedule B (in this case, we don't). What would be the time restrictions?