DOL changing 5500 signatures

[Earl]

I had a client file 10/13/10 - 2 days before the 10/15 deadline.

For some reason I had started saving the pdfs from the DOL website last October. The pdf shows the same name on the left and right and the date 10/13/10. As you know (or as I understand it) EBSA populates the date field and converts the UserID to the actual name on the left. Everything looked good and I moved on.

Now the client gets a letter from the IRS saying late filing and a fine.

I go to the DOL web site now and the name has been cleared and replaced with "Filed with incorrect/unrecognized electronic signature." The 10/13 date is still there.

I can't believe it but I will be certain to download and save the 5500s upon submission going forward.

[Andy the Actuary]

I file for my clients using IFILE rather than 3rd party software. EFAST2 does generate an email that has a reference number. I would hope this number would be of value in demonstrating that you filed. One would also hope that the DOL/IRS will be understanding during the early years of electronic filing and that you should be granted forgiveness.

[chc93]

I had a client file 10/13/10 - 2 days before the 10/15 deadline.

For some reason I had started saving the pdfs from the DOL website last October. The pdf shows the same name on the left and right and the date 10/13/10. As you know (or as I understand it) EBSA populates the date field and converts the UserID to the actual name on the left. Everything looked good and I moved on.

Now the client gets a letter from the IRS saying late filing and a fine.

I go to the DOL web site now and the name has been cleared and replaced with "Filed with incorrect/unrecognized electronic signature." The 10/13 date is still there.

I can't believe it but I will be certain to download and save the 5500s upon submission going forward.

We've heard that the DOL started removing the signer name on the left side since TPA's names were appearing for those that file for their clients. So, we've seen prior filings which had names before, now show "Filed with authorized/valid electronic signature".

But, at the recent ASPPA conference in LA, we heard that EFAST found that filing signer PIN's were not the correct ones for the signer, but was "accepted" anyway. So they are now going back to these filings where the PIN was entered incorrectly. If you're getting the "incorrect/unrecognized electronic signature", maybe the PIN was incorrectly entered when originally filed? As far as I know, we (our clients) have not received these IRS letters yet, and have not seen that "incorrect/unrecognized" note in the left side. I've gone back to a few filings on EFAST, and all have the "authorized/valid electronic signature" note in the left side... so far, no "incorrect/unrecognized" ones.

Hope this helps...

[K2retire]

Variation on a theme:

First filing on 6-23 and second filing on 8-30 both have the incorrect/unrecognized signature indication. Third filing on 8-31 indicates a valid signature. All three show filing with an extension. Client has now received a bill for late filing that calculates to $25 per day from August 2, 2010 to August 31, 2010.

Any theories why the extension is being ignored?

[Earl]

Same thing happening with me.

I am responding directing the IRS to DOL FAQ 38 regarding "processing stopped" status being filed for filing deadline purposes.

Happened a few times so far. No responses from IRS yet.