5500SF Line 13a

[Guest Julie Woulfe]

If you answer Yes to this Line 13a question "Has a resolution to terminate the plan been adopted during the plan year or any prior plan year?", you are then supposed to enter the amount of any plan assets that reverted to the employer this year. The instructions say "enter 0, if no reversion occurred." However, if you do enter 0, you then get this error on the RGF software: "DOLX-1075SF line13a is checked yes and an amount greater than zero is not provided for line 13a-amount."

When speaking to RGF about this, they say that this is a DOL warning, and there is nothing they can do about it!! I also get this error if I try to leave it blank. The only solution I can think of is to enter $1. Any thoughts?

[Andy the Actuary]

Does the software allow you to enter decimals? If so, enter .001 or even .01.

[Tom Poje]

interesting. using FT Williams and their edit checks produce no such warning message. I suppose if its only a warning and not a fatal error then its no big deal. on the other hand

the instructions for the SF say "Enter "0" if no reversion occurred during the curent plan year."

[Guest Julie Woulfe]

Tom, it shows as an "error/warning" on the RGF software. My concern is that if we do enter $0, will we be able to successfully submit it electronically?

Andy, the software does not allow us to enter decimals.

[Andy the Actuary]

Suggest trying to submit with $0. Fear is if you file with $1 reversion, IRS will be looking for excise tax payment forms. If rejected (worse comes to worse), will filing a 5500 rather than 5500-SF work?

[Bird]

When speaking to RGF about this, they say that this is a DOL warning, and there is nothing they can do about it!!

Tom, it shows as an "error/warning" on the RGF software.

Sounds like an RGF warning, not DOL. Use 0.

[Guest M. Martin]

We encountered the same problem and recently received a patch to fix RGF, seems to be ok now.

[Guest Julie Woulfe]

M. Martin - Do you know which patch it was? Our computer guy says he has done all of the updates, including the "Hot Fix", and we still get this DOL error/warning!

[austin3515]

http://www.efast.dol.gov/downloads/PY2010_DER.pdf

In black and white, on the DOL's web-site. This is a DOL ERROR, not a warning. See page 228 of this document which apparently is validation rules for processing the 5500's.

"Form 5500-SF, Line 13a is checked "yes," but an amount greater than zero is not

entered on Line 13a-Amount."

Scary that the validation itself on the DOL's materials are so obviously wrong. Can anyone say whether or not they have submitted and whether or not there were any issues?

As far as the referenced patch goes, we too have done all of the updates and still get the message. 10 to 1 you're thinking of the patch for the same line that involved transfer of assets to another plan. That error related to an issue with transferring the plan number indicated on line 13 (it wasn't being experted in the filing for some reason). It is otherwise unrelated to this issue.

[Tom Poje]

not in regrads to this error message but in general

I had called in regards to another issue, was told if I can see the form on the DOL website it has been 'received', so it wouldn't be considered 'late'.

it may have issues/problems, and may generate a follow up from the DOL at al ater date.

my particular error was because the Sched A total differed by $1 from the sched H.

[austin3515]

But you did an amendment to correct though I assume?

[Tom Poje]

I was going to wait and see what happens. If the DOL worries about $1 from one schedule to another then we are all in trouble.

[austin3515]

It would just bother me to see "Filing Error" as the status!

[Guest Julie Woulfe]

I submitted with a $0, and it was "received"....no warning, no error.....yipee!