What is DOL form EBS-1

[Guest Fishchick]

I have a Profit Sharing plan administrator who is being audited on his plan. IRS is asking for a copy of form EBS-1 (a DOL form). I have not heard of this form and could not locate any info about it on their website. Has anyone seen this form? What is the purpose of it and who must file it?

[BeckyMiller]

My guess is that your IRS auditor must have been rehired or something. The Form EBS-1 was a very long and detailed description of the plan terms that was required under ERISA for no apparent reason. I believe it was abolished in 1978 for 1979. Many libraries kept old copies around as it was the sole source of the definition of a "material modification" for purposes of filing the SMM when you change the Summary Plan Description. However, I just scanned through our library and I can't find a copy. I suspect that I have one buried somewhere if you really need it.

I am curious - is the IRS asking if it was ever filed? Are they asking for a copy of the SPD, since that is what replaced the form for all practical purposes.

The following is an extract for a DOL notice on a revision to the regulations:

Prior to 1979, the administrator of an employee benefit plan

subject to the provisions of Part 1 of Title I of ERISA was required

to file with the Department a plan description (Form EBS-1) to

satisfy the statutory filing requirements of section 104(a) and 29

CFR 2520.104a-2. See 41 FR 16957 (April 23, 1976). In 1979, the

Department amended 29 CFR 2520.104a-2 (44 FR 31639 (June 1, 1979)),

to provide that the administrator of an employee benefit plan would

satisfy the plan description filing requirements of section

104(a)(1)(B) by filing with the Department a SPD and an updated SPD

in accordance with section 104(a)(1)© and the regulations

thereunder.

This is the website where you can find the entire notice - http://www.dol.gov/dol/pwba/public/regs/fe...ed/99019860.htm

I only give you this to give to the IRS examiner, not because I expect you to do anything with it.

It sure is nice to know that we old-timers still have value.

[Kirk Maldonado]

I think that the request for an EBS-1 is on an IRS form document. One of my clients got the same request a couple of weeks ago.

The seriously need to update their form document.