EFAST (second generation) / mandatory E FILE start date

[BeanCounterBlues]

Is it correct that mandatory e file is for plans beginning 1/1/09 or after. Thus for calendar year plans the first mandatory round of physical e file actually occurs in 2010.

I've been receiving seminar materials from companies offering CPE stating that 2008 filings are the first mandatory E FILE year e.g. for those filings that we are submitting right now in 2009. I understand we need to start gearing up now but I thought the requirement didn't actually come into play until 2010 (for a calendar plan).

Any helpful clarification would be appreciate, thank you!

[david rigby]

http://www.dol.gov/ebsa/compliance_assistance.html#section5a

Scheduled for plan years beginning 1/1/09 or later. But it could change.

[mwyatt]

One dumb question here. PBGC allows filing over the Internet; from what I see currently, looks like we have to scare up a bunch of modems to process IRS filings. Mechanically, are we going back to the Compuserve era w/ IRS e-filing, or will this be over the Internet?

[K2retire]

I'm not sure what you're seeing, but everything I've read indicates that this will be filing over the Internet. Whether or not your Internet connection requires a modem seems to be an unrelated issue.

[Guest naveen]

Currently Efast-1 requires efiling only thru a dial-up modem. The outdated class 1 modems!!!

We have spoken with the efiling at the DOL & they are working on the second generation. However, they are not 100% certain if they can make the deadline. The proposed system is an internet based filing & will not require a dialup type modem.

Your personal internet maybe thru a DSL modem

So much blah

[mwyatt]

I brought up the modem issue since current electronic filing requires one (no Internet transmission). Certainly not using a modem for the Internet; more that I didn't want to have to go fishing for phone cords or have to deal with installing single phone lines in our office (or even better, have to deal with a dedicated computer for dialup transmission).

If I'm reading these responses correctly, looks like there may be an issue with Internet transmission coming online in time for the filing deadline. Would venture that if they don't have that ready to go, delay a year. Who the heck uses dialup anymore?