Filing under the wrong Plan No

[pixmax]

I found that a prior tpa were filing the Form 5500 under Plan No 001 when in actuality it should have been 002. The Employer sponsors a Plan 001 and later sponsored another Plan but the Document and Form 5500 were marked as 001 instead of 002. Can I just fix this on Form 5500 where it asks if has a new adopting employer? I am restating the Document with 002.

[RCK]

Are you saying that both filings were done every year under the correct EIN and plan number 001? And that nobody noticed it?

[pixmax]

Are you saying that both filings were done every year under the correct EIN and plan number 001? And that nobody noticed it?

[pixmax]

Are you saying that both filings were done every year under the correct EIN and plan number 001? And that nobody noticed it?

Yes, same EIN and Plan No. and never caught.

[Guest Form5500]

This is actually a common mistake that the DOL sees. I'm suprised their system didn't catch it and send the plan sponsor a notice.

The plan sponsor will need to correct the plan cnumber on the current year and should also go back and amend for the errors on all prior returns. Keep a good paper trail/file on this, because the plan sponsor might get a notice and this way they will be able to easily explain this.

One other important thing to mention is the plan sponsor should do review all documents that pertain to this Plan to make sure they have the correct plan number listed (i.e., determination letter, SPDs, SMMs, typed Schedules attached to return -- assets held for investment and reportable transactions, SARs, etc.).