IFILE Acknowledgement ID

[austin3515]

Does anyone know how to get this out of IFILE?? I need to do an amended through web-client (because our name showed up as the plan administrator on the 5500, which is unavoidable in IFILE, I've been told...

[Andy the Actuary]

Does anyone know how to get this out of IFILE?? I need to do an amended through web-client (because our name showed up as the plan administrator on the 5500, which is unavoidable in IFILE, I've been told...

"It's twoo, it's twoo." So what if some unknowing attorney files a class action suit againt you because your name appears on the electronic copy. You can always clear this up in federal court.

The on-line filing includes a copy of the 5500 signed by the plan sponsor/plan administrator. Also, you have in your files a form signed by the plan sponsor/plan administrator authorizing you to file. I've spoken with the DOL and assure that's the way it's supposed to work. (The forms were already finalized by the time the DOL relented to a 3rd party signer.)

Hopefully, some of the lobbying groups (e.g., ASPPA) will be able to encourage the DOL to modify the 5500 so that the filer's name appears in a separate entry (sort of like on the IRS 1040). In short, I had the initial reaction as you but soon got over it.

[austin3515]

We're more concerned about correspondence going to someone other than the trustee. For example, an IRS audit letter not getting to the right place because no one knows who John Doe is.

Also, some trustees are sensitive to this kind of thing too. They don;t want to see someone else's name on their plan. I can think of one who would probably have a stroke if this ever happened!

And of course, no one wants to clear something like this up in federal court - best to stay out of federal court and keep the 10 grand in attorney's fees in your pocket!

[K2retire]

We're more concerned about correspondence going to someone other than the trustee. For example, an IRS audit letter not getting to the right place because no one knows who John Doe is.

Also, some trustees are sensitive to this kind of thing too. They don;t want to see someone else's name on their plan. I can think of one who would probably have a stroke if this ever happened!

And of course, no one wants to clear something like this up in federal court - best to stay out of federal court and keep the 10 grand in attorney's fees in your pocket!

All of these are valid concerns, but the one who doesn't want anyone else's name on his plan -- but delegates signing the return makes no sense to me!

[Andy the Actuary]

We're more concerned about correspondence going to someone other than the trustee. For example, an IRS audit letter not getting to the right place because no one knows who John Doe is.

Also, some trustees are sensitive to this kind of thing too. They don;t want to see someone else's name on their plan. I can think of one who would probably have a stroke if this ever happened!

And of course, no one wants to clear something like this up in federal court - best to stay out of federal court and keep the 10 grand in attorney's fees in your pocket!

All valid but client has a choice. He/They can obtain signing credentials and navigate the IFAST website.

[austin3515]

So since we all agree they are valid concerns, wouldn't amending be a good way to provide better service? And doing an amendment would be a snap, especially since it is an internal process.

But the trick is getting the acknowledgement id - anyone have any ideas?