Does a 5558 negate the automatic extension?

[John A]

A plan had a short plan year from 1/1/99 to 8/31/99, so the 1999 5500 was due 3/31/00. A 5558 was filed to extend the due date to 6/15/00. Without the 5558, the plan would qualify for the automatic extension to 10/16/00. What is the correct due date for the plan at this point?

[Guest JB2]

Per the press release announcing the extension:

"...for filers whose 1999 Form 5500 Series would be due on or before July 31, 2000, the deadline for filing will be extended to Oct. 16, 2000, without filers having to file a Form 5558.

The agencies emphasized that this automatic transition extension cannot be extended further by filing a Form 5558. Also, filers whose normal due date is after July 31, 2000, and who are otherwise eligible to use the Form 5558, must still timely file the Form 5558 to secure a two and one-half month extension."

[Bill Berke]

I think that if you filed the 5558 before the announcement, then the announcement controls and you have the extended date. If the form was filed after the announcement was published, then you could take the position that it was an internal clerical error to be ignored. I wouldn't include the 5558 with the filing. If the gov't did a complete job (ha) the computer should be programmed to accept any 5500 forms timely filed (by Oct 16th) without regard to any existing 5558.

[This message has been edited by Bill Berke (edited 06-01-2000).]