Belgarath Posted October 7, 2010 Posted October 7, 2010 This qualifies for Ripley's believe it or not. We just had a bunch of 5500 forms bomb yesterday, for lack of proper credentials. So when the clients finally got a live person at the DOL, the clients were informed that the credentials had been deactivated because the clients hadn't used them!!! The clients just applied for and received these credentials this year, and we haven't even reached the first extended filing date! My theory is that there is a major conspiracy between the drug companies and the DOL, and the DOL receives illegal kickbacks on the sale of blood pressure medication. But I do know that whatever mentally arthritic people at the DOL are responsible are very fortunate that they are not within my arm's reach right now.
Andy the Actuary Posted October 7, 2010 Posted October 7, 2010 This is like the "bad beat" in Texas Hold-em!!!! One wonders whether this mean that all of our credentials are going down the potty since we may not use them for another year? From the St. Louis Post-Disgrace, February 14, 2010 (before DOL backed off 3rd party submitter prohibition): "A $15,000 fine for not being online? - If you own a business and have a 401(k) plan for your employees, you're required to file reports with the Labor Department. Paper forms used to be OK, but according to consultant Brett Goldstein, businesses now have to file electronically or pay a $15,000 penalty. That's a hardship for some small businesses, says Goldstein, who runs a firm called The Pension Department in Plainview, N.Y.: "Unfortunately, 20-28% of small businesses don't use email and may be forced to pay a $15,000 penalty. Small business owners who don't have email [or] high speed Internet connections, and older business owners, are going to have a hard time trying [to] comply with the DOL's mandate that everyone use the Internet to electronically file their forms." I'm all for saving the government money, but we should be trying to encourage more employers to offer 401(k) plans, not throwing roadblocks in their way. For some very small firms, mandatory e-filing could be a roadblock. (2.9)" The point is the DOL is not terminally rigid and may amend its processes. I've found folk on their 800 hot-line to be friendly and helpful and there is no significant wait time to get to a human. That said, I haven't gone so far as to include the DOL on my Thanksgiving dinner invitation list. The material provided and the opinions expressed in this post are for general informational purposes only and should not be used or relied upon as the basis for any action or inaction. You should obtain appropriate tax, legal, or other professional advice.
Guest nmull22 Posted October 7, 2010 Posted October 7, 2010 EFAST2 Guide Section 2.2.6 Receive Credentials Notification (Page 14) http://www.efast.dol.gov/fip/pubs/EFAST2_G...e_Providers.pdf Sounds like your clients did not click the link in the automatic notification email from EFAST2 within three months of registering.
austin3515 Posted October 7, 2010 Posted October 7, 2010 Or perhaps they did not create a password to fully activate the account. We had this come up a lot, because people would print out the page with the credentials and assume (quite reasonably I might add) that they were done. When in fact, if you continue on for a couple more screens your credentials are never activated and you get "processing stopped" when you file... But if none of this is the case, and they really did expire, please do let us know because that would be one for the record books... Austin Powers, CPA, QPA, ERPA
BeanCounterBlues Posted October 14, 2010 Posted October 14, 2010 Maybe DOL will just get a clue and let us register for and have the PIN - IRS doesn't care why s/ DOL???? IRS e file is walk in the park. Normally I wouldn't congratulate the IRS but on this one I do. And I don't want my name listed as "plan admin" on DOL website no matter what caveats they put on their website!
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