Belgarath Posted October 7, 2009 Posted October 7, 2009 Never having filed electronically before, we have questions on this just like anyone else. Does anyone know: If you are using a "third party web-based system" - once you enter all the 5500 data and send the e-mail to the plan sponsor to invite them to a "signing ceremony" - is this something that must be done immediately, and will you need to be on the phone with them or something crazy like that? Or, will they then be able to do their thing and file at their leisure (within the deadlines, of course)? I'm assuming the latter. But, thought I'd see if anyone has better information! Thanks.
Bird Posted October 7, 2009 Posted October 7, 2009 It might depend on the vendor's software. The one vendor webcast I listened to, I understood them to say that both we (TPA) and plan sponsor had to "attend" simultaneously. I often have a hard time processing dumb concepts so I only have that vague recollection. I think some software will allow you to forward the return to the sponsor for approval. Sorry for the semi-useless comments, but the point is that you might want to explore the alternatives carefully before renewing your 5500 software. Ed Snyder
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