Final 5500 Short 2009 PYE

[jkharvey]

The plan terminated and the short plan year Final F5500 is due January 13, 2010. I'm trying to figure out if I can file 5500 now w/ a paper 2008 return marked up for 2009 or if I have to wait until EFAST 2. The FAQ at DOL makes reference to a short year w/ a due date before 1/1/2010 getting an automatic extension so they can use EFAST 2 (encouraged to use EFAST). So, I'm thinking that means anything due after 1/1/2010 MUST wait and use EFAST 2. Thoughts?

[WDIK]

http://benefitslink.com/boards/index.php?showtopic=42068

[jkharvey]

Thank you for the link. I looked for another discussion on the subject (I figured there was one out there) but just didn't see it. Thanks again.

[Guest Form5500Guru™]

The 5500 instructions provide that a plan with a short 2009 plan year whose filing deadline is before January 1, 2010 has two options:

(1) the plan may file a 5500 using 2008 paper forms by its normal deadline; or

(2) the plan can take advantage of an automatic extension and file electronically. The special extension is 90 days following the date on which the DOL makes electronic filing available (targeted to be January 1, 2010). The portion of the 5500 instructions which provides the options for plans with short 2009 plan years follows:

2009 Short Plan Year Filings. Short 2009 plan year filers whose due date to submit their 2009 filing is before January 1, 2010, will be given an automatic extension to electronically file their complete Form 5500 within 90 days after the 2009 filing system is available on the DOL website. This special extension is being granted to encourage such short 2009 plan year filers to file their 2009 Form 5500 annual return/report electronically under EFAST2. Short 2009 plan year filers whose due date is before January 1, 2010, and who choose not to take advantage of the special extension, must use plan year 2008 forms and must submit their 2009 filing to EFAST on or before the due date for their short plan year filing.

A plan with a short 2009 plan year which has a filing deadline after December 31, 2009 (e.g., a plan which terminates after May 31, 2009) is not eligible to use the 2008 paper forms nor is it eligible for the automatic extension. A plan with a short 2009 plan year that has a filing deadline after December 31, 2009 must file electronically and is not eligible for the automatic extension.

[Bird]

For anyone who didn't click through and read the linked post carefully, it went back and forth and one of the final posts was this (my emphasis):

http://www.relius.net/News/TechnicalUpdates.aspx?ID=468

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Short 2009 plan years. The 2008 Form 5500 instructions indicate that plans with a 2009 short plan year which have a 5500 filing deadline before January 1, 2010, may file a paper 5500 using the 2008 forms or are eligible for an automatic extension of 90 days following the date electronic filing becomes available. The result of this policy is that plans with short years having a deadline after December 31, 2009 (e.g., plans which terminate after May 31, 2009) have no option but to wait for electronic filing. DOL and IRS officials seemed surprised by this result and indicated that the DOL will not reject a paper filing for any plan with a short 2009 plan year, regardless of its deadline.

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Looks like the 2008 Form 5500 paper filing will be accepted... in all cases regardless of the deadline/due date. (amazing that DOL was surprised, when they are pretty explicit on their website summary)