5500 Signed by client's CPA

[Belgarath]

Just curious as to whether you commonly see this - I don't.

Plan document names the Employer as Plan Administrator. Presumably, the Employer can designate anyone they wish to sign as Administrator on behalf of the Employer. Do you commonly see the CPA sign in this capacity, assuming so authorized by the Employer?

[Bird]

No, it's not common. But we sometimes see (takeover) 5500s signed by the secretary (I don't mean corporate secretary, the office secretary) or other random persons. Of course if the CPA is preparing the return and doing administration, that is a red flag for a problem takeover.

[QDROphile]

To rephrase: the employer can authorize anyone to sign on behalf of the employer, and the plan administrator can authorize anyone to sign of behalf of the plan administrator, subject to any limits on the authority of the plan administrator to delegate or to appoint an agent or another fiduciary. Also, applicable authorization procedures must be followed.

Service professionals usually do not sign as an agent because tax return documents are signed by the taxpayer under penalty of perjury.

[mphs77]

Is there a Power of Attorney in place giving the CPA said power?

[Belgarath]

Don't know if there is a corporate resolution, etc., authorizing this or not.

[Peter Gulia]

Was this Form 5500 report signed and filed electronically?

If so, does whatever one does to get the electronic-filing credentials help to support the signer's authority?

[mbozek]

Does signing the 5500 make the accountant a plan fiduciary under ERISA regs?

[SSSCCH]

It sounds like it does.