5500

[Guest tina.jordan@altigro.com]

I have a plan that was originally considered abandon by DOL, however after approximately 2 years DOL found the trustee and began working with him to terminate the plan. I received a call from DOL and was informed that since they found the trustee that the plan is no longer considered abandon but now a plan termination. However, here is the problem: There are two plans associated with the case, the first plan terminated and assets were transfered from that plan to the other. We prepared all the necessary required documents to terminate the plan and start the new plan however after several calls DOL informed me that the second plan never really existed since a plan document was never signed by the new trustee's. However, we did not found this out until after we completed a final 2008 form 5500 (showing assets transfered new tax id number to second plan) and completed the 2009 & 2010 5500 for the new plan.

Now, how do I amend the 5500's for both plans? Do, I know I have to show that the 1st plan was not a final 5500 and then prepare the 2009 & 2010 5500 (as well as 2011, of course). And then, amend the second (that never existed)? but, do I show the assets as zero and just check amend?

Any assistance would be greatly appreciated...thanks again

TEJ

[Kevin C]

I suggest you call the DOL person you dealt with and ask them what to do with the 5500's. Since they have already looked over the situation, they may surprise you with what they say. The few times I've had DOL involvement where there was an issue with prior year 5500's, they took into consideration the government's expense of processing the amended filings.