Amended Form 5500 for 2008

[doombuggy]

I finally got the 2008 census data I needed from a client today (yes, I said 2008). As it turns out, the owner made less than the broker estimated on 9/15/09, so the safe harbor match that was reported on the 2008 Sch I was overstated. We'll need to amend the return - can we still do that on paper?

[BG5150]

Was the 5500 done on a cash basis or accrual basis?

And I thought that the electronic filing was for plan years beginning after 12/31/08, not the return's date.

[chc93]

According to the EFAST-2 FAQ's, delinquent or amended Form 5500 for plan years prior to 2009 can be filed through EFAST on paper until Oct 15, 2010. See Q4 in the link below...

http://www.dol.gov/ebsa/faqs/faq-EFAST2.html

[doombuggy]

Was the 5500 done on a cash basis or accrual basis?

And I thought that the electronic filing was for plan years beginning after 12/31/08, not the return's date.

It was done on an accrual basis, as the only person who deferred was the owner, and he made the deferral deposit in early January 2009, but procrastinated until the final minute to deposit his SHM. Since he did not provide his comp, we made the assumpiton that this DR hit the comp limit. We turned out to be wrong. The other problem is they don't speak much English, and that is all I speak, so it's very difficult to get the needed info. We found out who the accountant is last month, so we are hoping to have better luck for the 2009 plan year.

chc93, thanks for the link!

[Guest Form5500Guru™]

Yes, you can. Specifically, while you may submit a delinquent or amended 2008 plan year filing electronically through EFAST2 beginning January 1, 2010, you also have the option to submit it through EFAST either on paper until October 15, 2010 or electronically until June 30, 2010. After October 15, 2010, even 2008 plan year filings must be submitted electronically through EFAST2.