austin3515 Posted October 17, 2011 Posted October 17, 2011 What are people entering for the hurricane Irene extension under special extensions box? Austin Powers, CPA, QPA, ERPA
12AX7 Posted October 21, 2011 Posted October 21, 2011 Just saw this post now. Perhaps a little late. What did you end up using? I only had to do one and used "Hurricane Irene Exten. (IR 2011-87)" due to space limitations.
Guest Form5500 Posted November 1, 2011 Posted November 1, 2011 Plan sponsors should follow the instructions to Form 5500 series under the section “Extension of Time to File” regarding how to file the forms when special extensions are granted. Essentially, the guidance in the instructions is included under the caption “Other Extensions of Time” which advises that, if a plan sponsor is relying on an announced special extension, the sponsor should check the appropriate box on Form 5500 which is Part I, line D, and enter a description of the announced authority for the extension. Although there is no specific language required under the current extension, the announced authority could be described as follows: “Special extension pursuant to federally designated disaster areas as listed in IR 2011‐87, originally published September 1, 2011 and subsequently updated to reflect new areas for relief, grants until October 31, 2011 to file annual Form 5500 for a retirement and welfare benefit plan.” Nicola
austin3515 Posted November 1, 2011 Author Posted November 1, 2011 I think that's a beautful description, but it won't exactly fit I went with "IR 2011-87 (Hurricane Irene)" based on the assumption that anyone "checking into this" will know what I meant. Austin Powers, CPA, QPA, ERPA
BG5150 Posted November 2, 2011 Posted November 2, 2011 We just went with "Hurricane Irene" which would seem sufficient. QKA, QPA, CPC, ERPATwo wrongs don't make a right, but three rights make a left.
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