SSRRS Posted April 7, 2020 Posted April 7, 2020 Since Many/all are working remotely will the fye 6/19 5500s that were on extension until 4/15 be included in the new extension? It's hard to understand if it is not further extended. Thank you.
Jakyasar Posted April 7, 2020 Posted April 7, 2020 No automatic extension for 5500 Series. ASPPA has requested, but no news yet. This is what I was told
Jakyasar Posted April 10, 2020 Posted April 10, 2020 Just saw the notice 2020-23, relating to rev-proc 2018-58 #40. Am I correct to assume that the 4/15/2020 extended line for the 5500/PBGC filing has been extended to 7/15/2020? Thank you
C. B. Zeller Posted April 10, 2020 Posted April 10, 2020 According to this ASPPA article, yes. https://www.asppa-net.org/news/browse-topics/irs-5500-extension-comes-short Free advice is worth what you paid for it. Do not rely on the information provided in this post for any purpose, including (but not limited to): tax planning, compliance with ERISA or the IRC, investing or other forms of fortune-telling, bird identification, relationship advice, or spiritual guidance. Corey B. Zeller, MSEA, CPC, QPA, QKA Preferred Pension Planning Corp.corey@pppc.co
RatherBeGolfing Posted April 10, 2020 Posted April 10, 2020 4 hours ago, Jakyasar said: Just saw the notice 2020-23, relating to rev-proc 2018-58 #40. Am I correct to assume that the 4/15/2020 extended line for the 5500/PBGC filing has been extended to 7/15/2020? Thank you https://content.govdelivery.com/accounts/USPBGC/bulletins/285ef9c Follow up from PBGC
Jakyasar Posted April 10, 2020 Posted April 10, 2020 For the DB/CB plans, I do not believe AFTAP certifications are extended, correct? If the 5500 was due 5/15, AFTAP date would be 4/30 but if the 5500 filing is extended to 7/15, I do not see AFTAP being extended to 6/30.
C. B. Zeller Posted April 10, 2020 Posted April 10, 2020 No need, CARES sec. 3608(b) allows the plan to use its certified AFTAP for the plan year ending 6/30/19 as its AFTAP for the 7/1/19-6/30/20 and 7/1/20-6/30/21 plan years. Free advice is worth what you paid for it. Do not rely on the information provided in this post for any purpose, including (but not limited to): tax planning, compliance with ERISA or the IRC, investing or other forms of fortune-telling, bird identification, relationship advice, or spiritual guidance. Corey B. Zeller, MSEA, CPC, QPA, QKA Preferred Pension Planning Corp.corey@pppc.co
SSRRS Posted April 13, 2020 Author Posted April 13, 2020 Thank you very much Jakyasar, C.B. Zeller, and RatherBeGolfing. I hope you all , and everyone as well, stays safe. Bill Presson 1
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