Efiling

[Guest AHS527]

How is everyone making out with efiling? What percentage of your plans have successfully efiled?

I was told that the DOL has received less than 5% of all plans so far.

[Andy the Actuary]

This is a personal preference that all 2009 calendar year 5500s, save the EZs, are being put on extension to 10/15/2010. This is to allow time for additional changes by the DOL as well as software. When I put my front tooth under my pillow last night, I wished that the DOL would eliminate the privacy-threatening requirement to include a scan of the signer's actual signature.

[rcline46]

I would be surprised if, in all prior years, 5% of the 5500s were filed by June 1st. The DOL should not be surprised. I am waiting for their system to crash about July 20th. And then crash again about October 7th. In my opinion, efiling is more cumbersome, and this year a lot more cumbersome than paper, even with the webclient software offered by several vendors.

[Andy the Actuary]

I would be surprised if, in all prior years, 5% of the 5500s were filed by June 1st. The DOL should not be surprised. I am waiting for their system to crash about July 20th. And then crash again about October 7th. In my opinion, efiling is more cumbersome, and this year a lot more cumbersome than paper, even with the webclient software offered by several vendors.

You have my vote for King!

[K2retire]

I would be surprised if, in all prior years, 5% of the 5500s were filed by June 1st. The DOL should not be surprised. I am waiting for their system to crash about July 20th. And then crash again about October 7th. In my opinion, efiling is more cumbersome, and this year a lot more cumbersome than paper, even with the webclient software offered by several vendors.

And as far as all procrastinating clients are concerned, we will be personally responsible for the DOL's failings!

[Bird]

We opened the floodgates after the DOL FAQ update and have filed maybe 40% of our returns. Almost everyone has opted for the scanned signature. It's all going very smoothly so far.

[Andy the Actuary]

We opened the floodgates after the DOL FAQ update and have filed maybe 40% of our returns. Almost everyone has opted for the scanned signature. It's all going very smoothly so far.

It comes as a great shock that the US of A which prints thousands of words on preventing ID theft would prescribe an option that circulates people's signatures in cyberspace. This is one of those options that will end bad for someone.

[Guest Catherine M. Peery]

We've filed about 100 returns so far, and we love it. Its so much better in every way. And there are no real signatures being bandied about in space. We're using FT Williams. They're the greatest.

[Tom Poje]

After my initial misgivings, I think I would agree, the filings seem to be going real easy, we switched to FT William as well and haven't had the problems I understand other have experienced so maybe that's the difference. eliminating sending the form to the client, getting it back, sending it certified to the DOL a lot less cumbersome, but then what do I know. (and this comes from one still living in the 'dark ages' as far as using many of the electronic 'toys' we have today.)

but thank you Mr Cline, you have given me an inspiration to try to churn out another pension song about how things were so much better back when...

but I'll post that on the humor board