Late 5500 filings & DFVCP

[ERISA13]

A small 401k plan is not sure if all the Form 5500 filings are up to date. I searched for filings on the EFAST2 website with no results. I then searched FreeErisa.com and the latest filing I found was 2001 & 2002. The Plan Sponsor does not have copies or any returns for me to look at and they were using bundled TPA services with a provider that is no longer in the business. I feel pretty confident now that 2002 was the last filing but is there a way I could be more sure since I guess the tax id could have been incorrectly entered preventing my search from locating the filings?

It is my understanding that DFVCP is available for all missed filings as long as there have not been any notifications of late filings from the DOL/IRS & accordig to the Plan Sponsor there has not been.

Anyone have experience correcting 10 years of late 5500s and if so any advice?

[A Shot in the Dark]

We recently (last 24 months) assisted a takeover client with prepration of 6 years of prior years' Form 5500's. The client used the DFVCP program, paid the fee, etc.

It went well, other than the continuous IRS late notices. Over a period of months we responded to individual year late notices from the IRS. Each and every late notice was responded to with the same formatted cover letter (changed for the specific year) stating that the return had been filed under the DFVCP program, with a copy of the cover letter for the original DFVCP filing and a copy of the cancelled check.

In response to our responses to the original late notices, the IRS sent a communication citing the removal of the penalty for each and every year.

So, over a few months of correspondence with the IRS, it was all taken care.

As a hint, build in your time to deal with the IRS responses as part of project fee quote to prepare the 5500's and assit with the DFVCP filing.

[MBCarey]

I need to do the same thing. Can you tell me, did you file all the late 5500's electronically and then apply? If so, what year form did you use? I have to file for about 6 years. The filings were done but the client did not send them in.

We recently (last 24 months) assisted a takeover client with prepration of 6 years of prior years' Form 5500's. The client used the DFVCP program, paid the fee, etc.

It went well, other than the continuous IRS late notices. Over a period of months we responded to individual year late notices from the IRS. Each and every late notice was responded to with the same formatted cover letter (changed for the specific year) stating that the return had been filed under the DFVCP program, with a copy of the cover letter for the original DFVCP filing and a copy of the cancelled check.

In response to our responses to the original late notices, the IRS sent a communication citing the removal of the penalty for each and every year.

So, over a few months of correspondence with the IRS, it was all taken care.

As a hint, build in your time to deal with the IRS responses as part of project fee quote to prepare the 5500's and assit with the DFVCP filing.

[A Shot in the Dark]

If it were my project:

Create the 5500 Filings

Mail a signed printed copy of each 5500 along with a cover letter and the DFVCP Filing Fee to the Department of Labor (Certified Return Receipt)

Make sure you mark on the 5500 the filing is under the DFVCP program

Electronically File the Returns

[TPApril]

You might want to consider another method of searching old forms, such as paying for a subscription service that gives you access (I don't do so so cannot recommend one). reason I say this is as I recall, freeerisa doesn't give many forms before 2009 anymore and clients I look up also have 2001-2002 but nothing until 2009. Another option, why not call the IRS Office of Public Disclosure at 202-693-8673 and maybe they can help tell you which years have not been filed. Whether that initializes an inquiry I don't know.

[BG5150]

Do you even have the records to do all the old 5500's?

[chc93]

You might want to consider another method of searching old forms, such as paying for a subscription service that gives you access (I don't do so so cannot recommend one). reason I say this is as I recall, freeerisa doesn't give many forms before 2009 anymore and clients I look up also have 2001-2002 but nothing until 2009. Another option, why not call the IRS Office of Public Disclosure at 202-693-8673 and maybe they can help tell you which years have not been filed. Whether that initializes an inquiry I don't know.

We've called the Public Disclosure office once, and got good results in finding a "missing" Form 5500.

Do you even have the records to do all the old 5500's?

We did one a couple of years ago, and used electronic filing for all 8 years or so. For another case, we were told by the IRS to make sure that the most recent 3 years are accurate, and the older years can be estimates. FWIW...