Send out SAR before e-signing? (!)

[BG5150]

Someone in my office said the current rules say that the SAR must be distributed before the 5500 is e-filed by the sponsor.

Is that true?

If so, what regs changed?

[ESOP Guy]

I am not aware of that change.

The one that I think one can technically be in violation of is the participant statement requirement. Strictly speaking if you send an annual statement on a trustee directed plan isn't that due to the people by the day you file the 5500? If so, if you prepare them all at once, something I used to do with very small 401(k) plans, and send the paper copies of the statements to the sponsor on the same day one e-files you have done a technical violation haven't you?

Mostly asking not taking that position. In this case it seems like the rules failed to keep up with the new ability to e-file.

[david rigby]

Someone in my office said the current rules say that the SAR must be distributed before the 5500 is e-filed by the sponsor.

The ability to do basic research is an important skill. You could ask that someone to "prove it".

[Andy the Actuary]

Someone in my office said the current rules say that the SAR must be distributed before the 5500 is e-filed by the sponsor.

Is that true?

If so, what regs changed?

Note, it is clear that the AFN is to be distributed before the 5500 is e-filed.

[chc93]

Someone in my office said the current rules say that the SAR must be distributed before the 5500 is e-filed by the sponsor.

Is that true?

If so, what regs changed?

Note, it is clear that the AFN is to be distributed before the 5500 is e-filed.

Also, note that the above is only for the small plan exception (less than 100 participants). Large plans, the AFN is due April 30 (assuming calendar year).

[Tom Poje]

so let's see what happens if you send the SAR before the 5500.

The SAR indicates that you can request copies of the 5500, but he 5500 hasn't even been filed

hmmm

the DOL website apparently hasn't been updated for this cahne either for it says the SAR is due

Within 9 months after the end of the plan year or 2 months after the annual report filing deadline.

so the SAR is due no more than 2 months after the 5500, but is suppose to be given out before the 5500 is filed.

This sounds like a time warp somewhere in the pension world. cool.

it would be like the DOL and IRS to expect us to meet those requirements.

[Andy the Actuary]

so let's see what happens if you send the SAR before the 5500.

The SAR indicates that you can request copies of the 5500, but he 5500 hasn't even been filed

hmmm

the DOL website apparently hasn't been updated for this cahne either for it says the SAR is due

Within 9 months after the end of the plan year or 2 months after the annual report filing deadline.

so the SAR is due no more than 2 months after the 5500, but is suppose to be given out before the 5500 is filed.

This sounds like a time warp somewhere in the pension world. cool.

it would be like the DOL and IRS to expect us to meet those requirements.

AFN is to be distributed before 5500 filed. Not sure this applies to SAR. AFN (for my clients) is sent with cover letter that indicates that 5500 will be submitted by extended filing deadline.