Amending 5500-SF to 5500

[Patrick]

A form 5500-SF was inadvertently submitted, when a Form 5500 should have been submitted.  Does anyone know the amendment procedure for this issue?

 

[Paul I]

File the Form 5500 and in Part I B check the box that the filing is an amended return/report. 

EFAST2 tracks Plan Sponsor EIN, Plan Number and Plan Year of all filings, and the most recent amended filing should supersede any prior filings.

[Bill Presson]

Might be an issue if the audit wasn't submitted with the original 5500-SF (and I'm not sure how it could have been). The amendment might generate a rejection letter for an incomplete filing in this case.

[drakecohen]

I would do DFVCP first. Probably as $2,000 large plan but wondering if $750 small plan would be accepted.

In any case, it would be a minor expense compared to the cost of an accountant's opinion.

[Sabrina1]

If an audit was required, I would file under DFVC (when the new audit was completed) as well, with $2,000 penalty.  If an audit was NOT required, I would just amend the 5500-SF onto a long Form 5500, and include the additional schedules/information.

[Bri]

Is this for a 2023 plan year filing where it's not actually late yet?

[Patrick]

Thanks for the feedback!  No audit was required.  The Form 5500 was in process but awaiting the new DCGs to be issued by the IRS and a 5500-SF was inadvertently omitted electronically.