Requirement to file 5500 with the state

[PAL]

Georgia requires that each year, a copy of the Form 5500 be filed with the Georgia Department of Revenue. I was unaware of this requirement which, they tell me has been in place for many years. They also said that if a plan has not complied with this requirement, they need to send in at least the last three year worth of 5500 to the DOR. Is anyone familar with this requirement? Are there any other states that have a similar requirement?

PAL

[david rigby]

Anything changed since this?

http://benefitslink.com/boards/index.php?showtopic=28203

[PAL]

I've been doing 5500s for more years than I'll admit and I would have agreed with the link you provided. However, this is from the Georgia Department of Revenue FAQ'a:

https://etax.dor.ga.gov/inctax/webfaq/faq-exp.aspx#7

Q. Our pension plan/employee benefit plan is filing form 5500 with the IRS. What do we file with Georgia?

A. File a copy of the federal Form 5500. Georgia does not have an equivalent Form 5500. For plan years beginning on or after January 1, 2009, the federal Form 5500 and its schedules must be filed electronically under the computerized ERISA Filing Acceptance System. The Department of Revenue does not currently accept these electronically filed returns. Therefore, file a hard copy of the electronically filed federal form with Georgia.

I spoke with the state of Georgia Department of Revenue and they insist that the 5500 must also be filed with them.

[KED]

This appears to apply in the non-profit context only -- is that correct?

[jpod]

I think the ERISA preemption position is probably valid, but as a practical matter: what's the big deal? If for some reason they try to hit you with penalties or try to assess state taxes against the plan, that's when you can assert your preemption argument. If you think it's a good idea you can note in your filing transmittal letter that you believe the filing requirement is preempted by ERISA, but I don't think that's necessary.

[david rigby]

... but don't give the state any portion of the 5500 that is not open to public inspection.