TPA Firm Obtaining Signer Credentials on Behalf of the Plan

[Guest richardmurray]

Hello to all-

Is the service provider allowed to register and obtain a plan sponsor/administrator's filing signer credentials and then prepare, sign and submit the form 5500-SF using those credentials on behalf of the plan sponsor/administrator? My firm has instructed the plan managers to do this following the recent additional e-signature option. We would be using the plan sponsor/administrator's name & email address. Everything I've read indicates this is strictly prohibited.

Thanks!

[Tom Poje]

under those conditions, the employer/sponsor is suppose to sign a hard copy. you are permitted to 'electronically' sign on their behalf, but you must attach a copy of the 5500SF as well. this leaves a signature out there for the world to see, so there is some concern over that.

you should also obtain some type of signed documentation form the client that you indeed do have permission to be signing electronically.

plenty of discussion on this in an earlier thread. just take a look.

[12AX7]

Shouldn't Enrolled Actuaries have the same concern with their signature on the SB out there for the world to see? They seem to have no choice.

[WDIK]

The actuaries have the option to initial the form.

[Kevin C]

Is the service provider allowed to register and obtain a plan sponsor/administrator's filing signer credentials and then prepare, sign and submit the form 5500-SF using those credentials on behalf of the plan sponsor/administrator? My firm has instructed the plan managers to do this following the recent additional e-signature option. We would be using the plan sponsor/administrator's name & email address. Everything I've read indicates this is strictly prohibited.

If you are talking about getting EFAST2 signing credentials using the sponsor/administrator's name, I agree you are not supposed to do that.

If you are talking about getting signing credentials under your own name and using those credentials to submit clients' filings, that's how the new filing option is supposed to work.

[Guest richardmurray]

Is the service provider allowed to register and obtain a plan sponsor/administrator's filing signer credentials and then prepare, sign and submit the form 5500-SF using those credentials on behalf of the plan sponsor/administrator? My firm has instructed the plan managers to do this following the recent additional e-signature option. We would be using the plan sponsor/administrator's name & email address. Everything I've read indicates this is strictly prohibited.

If you are talking about getting EFAST2 signing credentials using the sponsor/administrator's name, I agree you are not supposed to do that.

If you are talking about getting signing credentials under your own name and using those credentials to submit clients' filings, that's how the new filing option is supposed to work.

Hi Kevin--Thanks for your repy! Yes, this is indeed the instructions. There has even been discussions about creating a "plan gmail account" for each of the plans we register for crednetials 'on behalf of' for so that the plan managers can complete the registration process with the intent of using the obtained credentials to sign & electronically submit the plan's return.

Needless to say, I have re-activated my Career Builder profile & updating my resume....

Thanks again for your reply, hope your filings go smoothly!

Rm