Want to file under DFVCP Program... but Forms 5500C/R were discontinued

[Moe Howard]

I would like to file a buch of delinquent 5500's (small plans 1997 - 2007) ... but the 5500C/R series was discontinued many years ago.

I would like to file all of them using the most current version of Form 5500, even though years 1997, 1998, 1999 were originally required to be filed on a Form 5500C/R.

I heard a rumor while standing in line at Wal-Mart that the IRS now allows old delinquent years to be filed on the most recent current version of Form 5500 (rather than 5500C/R) if those old years are filed under the DFVCP program.

Since I have had bad luck from acting on rumors in the past, I thought someone at BenefitsLink might know if the rumor is fact or fiction.

Thanks

[PensionPro]

From the DOL Web site:

The plan administrator shall file either:

The most current Form 5500 Annual Return/Report form issued (and indicate in the appropriate space on the first page of the Form 5500 the plan year for which the annual return/report is being filed if different from the most current Form 5500), or

The Form 5500 Series Annual Return/Report form issued for the plan year for which the relief is sought (but not a Form 5500-R if the filing is for a 1998 plan year or a prior year).

[Moe Howard]

PensionPro, thanks. But now I have another question ..... the Form 5500 has the calendar year in bold print in the top right side corner of page 1.

I guess that I could mark that bold calendar year out with a pen, but the Form 5500 is machine read.

So, if I prepare 10 years of returns (1997 - 2006) all on a separate "2007" Form 5500 .(with the "2007 scratched out)... Won't that confuse the IRS machine that reads those 10 Forms 5500 ?

The client thinks I know what I'm doing and I'll look stupid if the DOL sends the 5500s back because I marked out the "2007year", but should not have.

If the client doesn't pay me, then I won't be able to pay the minimum payment on my credit cards this month.

[PensionPro]

There is no need to scratch out the calendar year on the top right corner of the 5500. The plan year information needs to be entered under Part I, "fiscal year beginning ---- and ending ----." We have not had any returns rejected doing this.

[BG5150]

What I want to know: Where is this Wal Mart at which you overhear conversations about filing old C/R's and DFVCP? I don't even overhear talk like that here at my job!!

[Moe Howard]

At Wal Mart near Korea Town @ LA, Califirnia