Form 5500 Extension past 10/15/10?

[Guest Julie Woulfe]

I had heard early on (from Relius pros, I believe) that it was expected that the DOL would extend the 10/15/10 deadline for 12/31/09 year end plans, at the last minute. I understand the DOL decided not to give a blanket extension for all plans with a 7/31/10 due date. But is it expected that there will be an extension on the 10/15/10 deadline? Any updates that I am not aware of?

[12AX7]

I think the DOL allowing the preparer to E-File for a plan sponsor is as good as it gets for now.

[My 2 cents]

The 10/15 deadline is out there and the DOL has given no indication that they will consider yielding and granting a later deadline. While we have been involved in few that have been filed yet, it is my understanding that tons of filings have already taken place. If the system is functional and there are software providers successfully working with it, why should there be any extra delays granted? Service professionals have been well-informed this is happening and have no excuse for not aiming to get things done on time. I would not be holding my breath looking for any special relief.

[Bird]

I haven't heard anything at all about an extension beyond 10/15.

[doombuggy]

The 10/15 deadline is out there and the DOL has given no indication that they will consider yielding and granting a later deadline. While we have been involved in few that have been filed yet, it is my understanding that tons of filings have already taken place. If the system is functional and there are software providers successfully working with it, why should there be any extra delays granted? Service professionals have been well-informed this is happening and have no excuse for not aiming to get things done on time. I would not be holding my breath looking for any special relief.

Your comment about us service professionals being well informed, etc is all well and nice, but while I sit here asking one of my clients AGAIN to confirm if they are making a profit sharing contribution for 2009, I am wishing that what the OP heard is true. I cannot finish their 5500 if I don't know what's on it!!!!! and it could be that the OP is in the same boat! I have 4 slackers and 5 clients that I am waiting for them to get their credentials (we don't sign for them), so all I can say is if these don't get done, it's certainly not my fault!

[Bird]

I cannot finish their 5500 if I don't know what's on it!!!!! and it could be that the OP is in the same boat! I have 4 slackers and 5 clients that I am waiting for them to get their credentials (we don't sign for them), so all I can say is if these don't get done, it's certainly not my fault!

That's correct, it's not your fault - and it's not the DOL's fault either; some people are just disorganized/lazy/stupid/arrogant and won't get this done on time, whether the deadline is July 31, October 15, December 31, or whatever. I see no reason for a blanket or other general extension. (And to be clear, I'm not criticizing or berating you; I'm just sayin', that's all...)

[K2retire]

We prepare the forms on a cash rather than accrual basis (no need to report that PS receivable). Over 6,000 of our clients had successfully filed by August 2.

[austin3515]

I have to imagien at a minimum 403b's will get ane xtension, espcially those with audit requirments.I would only expect a last minute extension if the sytem crashes from all the 10/15 filers. But I have to say the system worked perfectly fine on 7/31...