Authorization to Sign 5500 for Plan Sponsor

[Below Ground]

Does a person need to be enrolled to sign the 5500 for a Client, assuming that the Client has provided (1) proper written authorization for the TPA to sign for this Client, and (2) the Client provides the TPA with a hard copy form (as PDF attached to an email) which is signed and dated by the Plan Sponsor?  Our normal practice is for the Client to login to our portal and push a button that enters their DOL Credentials, and then push another button to submit to the DOL.  Unfortunately, we have ONE client that find that too complicated, so I am considering options.  Thanks for any feedback!!!

[Lou S.]

You don't need to be enrolled. You just need DOL Credentials yourself to submit the file. The software you have can probably walk you through the process.

[Below Ground]

Thanks Lou.  Does this mean you need credentials for each separate plan?  I have credentials for our Plan but not for specific Client plans.

[Lou S.]

No, you just need you own personal DOL signor credentials as Preparer and attach the client signed Return to the filing.

[BG5150]

to expand on Lou's answer:  DOL credentials are personal and not employer-related. 

So, say you are have been signing the 5500 (as an employee of) for BG5150's Pension Company 401(k) Plan for three years and then leave the firm (get out!).  Then you start work for Lou S's Even Better Pension Company and they want you to sign their 5500.  You would use the same credentials.  

[Gilmore]

Your written authorization no doubt includes the disclaimer that the client is aware their hand signed form will be open to public inspection on the EFAST site.  That usually causes most (not all) of our clients to opt for getting their own credentials.

[RatherBeGolfing]

6 minutes ago, Gilmore said:

That usually causes most (not all) of our clients to opt for getting their own credentials.

That used to be the case for me, but at this point most prefer that we file for them anyway.

 

[Peter Gulia]

Some signers use for Form 5500 reporting authorizations a signature that is deliberately illegible and unlike the signature the signer uses for her personal banking, credit-card, and other financial matters.