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Missing Auditors Report


EPCRSGuru

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An employer of my acquaintance, who uses a well-respected 5500 software product, filed a number of 5500s timely.  Upon checking on the government web site they discovered that the auditors' report was missing for one of their many plans--the remaining are fine.  On further examination it looks as though it might have been omitted when everything was uploaded to the vendor's web site for filing.  Don't know if this is system error or human error but obviously needs to be corrected.  Any advice to avoid a penalty for an incomplete filing?  Do they file an amended return even though none of the numbers changed?  Should they contact the vendor?  Other?  Thoughts appreciated!

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Double check everything with the vendor to confirm that everything that was submitted with the original filing was handled correctly.  The most common cause of this type of problem is human error.  Assuming there was an issue with the attachment (wrong file, empty file, not a pdf...), then make sure the vendor has the correct attachment uploaded.  With most 5500 software, you can view the attachments and a pdf of the filing before it is transmitted to EFAST2.   If all looks good, consider sending an amended filing.

When an amended return is filed, the amended return gets a new AckID for the EIN and plan number pair and the original return is replaced by the amended return on the EFAST2 web site.  There is no crosschecking of the numbers on the amended return against the original filing.  Filing amended return likely is the least time consuming approach.  Keep all of the documentation including the confirmation than the original return was accepted with no errors and the same confirmation for the amended return. 

Note that when an audit report is missing or unreadable, the plan likely will get a letter saying that the report is missing and the plan must file a complete form package by the deadline specified in the letter.  If the complete filing is not made by that deadline, it triggers the next communication the plan receives is the penalty notice.

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5 hours ago, EPCRSGuru said:

An employer of my acquaintance, who uses a well-respected 5500 software product, filed a number of 5500s timely.  Upon checking on the government web site they discovered that the auditors' report was missing for one of their many plans--the remaining are fine.  On further examination it looks as though it might have been omitted when everything was uploaded to the vendor's web site for filing.  Don't know if this is system error or human error but obviously needs to be corrected.  Any advice to avoid a penalty for an incomplete filing?  Do they file an amended return even though none of the numbers changed?  Should they contact the vendor?  Other?  Thoughts appreciated!

How long ago were these 5500 filed? 

I have found some of the 5500s don't show the auditor's report for a while.  This seems long but are they sure they really didn't attach them? 

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10 hours ago, ESOP Guy said:

How long ago were these 5500 filed? 

I have found some of the 5500s don't show the auditor's report for a while.  This seems long but are they sure they really didn't attach them? 

There should be a message on EFAST if an attachment is not displayed because it is under review.  It is likely that this is the case since it is difficult to submit a filing without the correct attachments using major provider software.  There are so many flags and warnings that it is almost impossible to do by mistake.

 

 

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