Extension beyond 10/15/2000?

[AndyH]

Any word on whether or not there will be an extension beyond 10/15/2000?

[Guest pinsall]

I was asking the same question myself

I am going to call DOL # on efast website

If enough people hound them maybe......

Pat Insall

[Guest Emiliano]

No dice. They told me that "any further automatic extension presents a number of potentially significant processing issues." Whatever that means.

[thepensionmaven]

From what I hear, no way. The word is, the October 15th deadline can not be extended as "that would be a change in the law."

Which law??

[Guest]

the one that says

forms are due 7 months after the end of the plan year.

you can file for an extension of 2 1/2.

there is nothing else in the law that gives IRS or DOL the right to extend it further, even if they wanted to.

[Brenda Wren]

Couldn't they just say they aren't extending the deadline but they will not be assessing penalties either? I've heard the rumor, too.

[AndyH]

I have to believe that will be the answer, if there is not an outright extension. Otherwise there will be massive non-compliance.

Unless I'm imagining it, I thought ASPA sent a letter to DOL a few months ago which it put on it's website, and the response was there were contractual problems with vendors processing the forms that would make a further extension problematic. I haven't heard a word since, nor is the letter on the site any more. Anyone know what happened with that?

[Cathy from Chicago]

Our office just received a fax from ASPA which contained wording which may be used if the 5500 is filed after the 10/16 deadline. The plan sponsor has to sign the letter, not the TPA. The sample wording (i'm not at office to quote exactly) basically says due to problems with the new filing systems the form was unable to be completed. Apparently, per the fax we received, only 25% of practitioners they surveyed will be able to meet the 10/16 deadline whereas in the past, 75% of practitioners were able to meet the established deadlines (extensions included). This whole new process is ridiculous.

[thepensionmaven]

Any way to get a copy of the ASPA note?

ASPA as a typical profit org will not be sending out to their general public.

They want the money for the subscription service before they do anything.

[Cathy from Chicago]

I can fax you the notice as it's too long to type and we don't have a scanner at the office..give me your fax number, etc.

[John A]

Cathy, is it available anywhere on the ASPA website (members only section perhaps) or was this something your office requested and received (in other words, not faxed to all ASPA members)?

[Greg Judd]

Looks like what's shaping up is a good 'real life' test of whether law follows life, or the other way around....

[Cathy from Chicago]

I didn't check out their website. we get periodic faxes on issues and this was the latest. I assume we pay for this service but can't tell you much more about it than this as I don't know. I just know 10/16 is approaching too quickly!

[Kristina]

The ASPA ASAP regarding the filing deadline for the 1999 5500's contains a statement that may not apply to your situation. The bar code (you know, the one you recognize as a bar code) at the bottom of the forms indicates the form, year, page number and the software provider who provided the software to you to prepare the forms. The DOL is aware of which software was able to produce fileable forms and when. It is an easy matter for the DOL or IRS to determine that the software you used was provided in time for you to have prepared all of your returns.

There was one Software provider who had great difficulty this year in providing fileable forms. If you are one of their users, I do not believe you will have a problem using the comment in the ASPA ASAP.

If you are a user of any other software provider, you may need to find a more feasible reason. Perhaps something to do with confusion because of the lack of explicit instructions, the seeming impossibility of getting the same answer twice from the IRS and the DOL or the fact that verbal instructions given over the phone for certain schedules do not match what is contained in the instructions caused you to prepare/review/research/revise/review/research/revise your forms before filing. I believe both agencies are aware of the confusion caused by the instructions and the two agencies this year. There is no need to blast them in your explanations, (Remember, Dale Carnegie, How to win friends and influence people.) but gently point out that forms that took a half hour to complete last year take much more time this year in your efforts to correctly provide the information they requested.

[AndyH]

To answer a question posed above, the ASPA notice in question was sent not to all members, but only to those who pay additional $ for the ASPA ASAP service.

[Guest Jim Hunzelman]

Kristina, I'll ask the obvious question. To what software vendor are you referring when you state that one software provider had great difficulty in producing fileable forms? From what I hear, they all did, but apparently one had much more difficulty than the others. Who was it?