Incorrect EIN Used in Prior Years

[Guest dms9999]

While doing the 2008 5500 I discovered that Form 5500 was filed for 2005, 2006 and 2007 using the employer's old EIN which was changed in 2005.

If I amend 2005-2007, do I include just the Form 5500 showing the new EIN or should I include the Schedule I for each year and Schedule P (for 2005) since the EIN is on these forms. Nothing else has changed on either schedule.

Want to get DOL everything they need and don't want client to have to see all the schelules and panic if they are not necessary.

Thanks for any input

[WDIK]

Perhaps it would be possible to make the correction on a prospective basis.

[Guest Sieve]

I don't administer plans, but I would fear that a prospective-only correction would generate a "where is the 5500?" letter from the IRS which, while easily explainable in a response to the IRS, might cause problems.

As to what to file (if you choose to amend the prior returns), look at the Instructions (e.g., p. 7 on the 2008 instructions).

[WDIK]

The Form 5500 has a line item that is completed when there is a change in plan sponsor or EIN that is supposed to alleviate the potential problem you posit.

[Guest Sieve]

Shows how much I know about the Form 5500 . . .

Your approach does make some sense--especially if it works--but completing the change of EIN information is intended only to cover situations in which the EIN changed since the last return. But, perhaps it makes no difference in the long run . . .

[Bill Presson]

I've had this happen a couple of times. In my opinion, you are already in a quagmire, but just haven't realized there's no way out.

If you stumble on a way that actually works, PLEASE post it here. I've tried the "prospective" fix and I've tried "refiling" previous returns to correct the issue. Nothing works.

Signed,

Schleprock

[Blinky the 3-eyed Fish]

Bill, I don't understand why you have had problems with a prospective fix. Because you can enter the EIN change on the 5500, the recognition of the new EIN used is automatic. We have never had a problem when employers changed their EIN.

[Bill Presson]

Bill, I don't understand why you have had problems with a prospective fix. Because you can enter the EIN change on the 5500, the recognition of the new EIN used is automatic. We have never had a problem when employers changed their EIN.

Blinky, I'm not talking about filing the correct 5500 with the correct EIN when the change happens. That's not the "prospective fix" that was discussed above.

They were talking about where the EIN actually changed in a prior year, but it only gets changed on the 5500 in the current year.

For whatever reason, we get letters generated the couple of times we've tried it. We haven't had problems when filing a 5500 with a new EIN in the actual year that the change occurs.

I don't know what triggers the letters. At least not in my case. That's why I signed Schleprock (at least in this situation. The rest of my life is lovely. Really).

[Blinky the 3-eyed Fish]

Blinky, I'm not talking about filing the correct 5500 with the correct EIN when the change happens. That's not the "prospective fix" that was discussed above.

You didn't read my post correctly. I am not talking about that either.

They were talking about where the EIN actually changed in a prior year, but it only gets changed on the 5500 in the current year.

I know.

For whatever reason, we get letters generated the couple of times we've tried it. We haven't had problems when filing a 5500 with a new EIN in the actual year that the change occurs.

When you encountered this situation, did you correct the EIN on the current year form? Did you indicate the change in EIN on the current year form? We have had to do this a few times and never got a letter.

[Bill Presson]

For whatever reason, we get letters generated the couple of times we've tried it. We haven't had problems when filing a 5500 with a new EIN in the actual year that the change occurs.

When you encountered this situation, did you correct the EIN on the current year form? Did you indicate the change in EIN on the current year form? We have had to do this a few times and never got a letter.

Yes and we got to do dueling letters. Not saying it doesn't work. Just not for us. We've not given up hope though!