short final plan year filing - extension

[pmacduff]

I have a terminated calendar plan with the final short plan year ending October 31, 2016 and the plan needs an audit report. The Accountant who will perform the audit has asked that I file an extension to give him until August 15, 2017.

My question is...can I file a 5558 now? Will it create a "flag" in the IRS system because the plan year end would normally be 12/31/2016?

There is a place on the 5558 to mark if it is for the first return filing, but I'm seeing nothing if it is for the final filing.

thanks in advance!

[RatherBeGolfing]

1. Yes you can file the 5558 now
2. There is really no reason to NOT file it now if you know you will need the extension. I know TPA firms who submit all their calendar year 5558's in early February.
3. No, it will not create a flag in the IRS system, other than extending your form to 8/15/17.
4. you are correct. You mark the 5558 if no 5500 has ever been filed, you mark the 5500 when no further 5500 will be filed.