Hurricane Ida Relief?

Is there Hurricane Ida relief for 5500's?

Company involved is based in NJ.

Depends where in NJ. Only certain counties are covered by the relief. If they are in the covered area, and they had a valid extension to October 15 (or any time on or after September 1) then the deadline is extended to January 3.

https://www.irs.gov/newsroom/irs-announces-tax-relief-for-new-jersey-victims-of-remnants-of-hurricane-ida

Thanks.

Just realized the company is based in New York County (NYC).  But still covered anyway.

Appreciate the help.

My clients are located in the areas covered for Hurricane Ida relief.  I have not as yet heard of any specific wording to add to Box C - Special Extension - Enter Description

I was thinking of "Section 8 - RevProc 2018-58"

Any other suggestions?

Without any specific wording from IRS, I'm afraid every client will receive an IRS love letter; of course we know it's the TPAs fault.

7 minutes ago, thepensionmaven said:

Any other suggestions?

Generally, the IRS likes the following formula:

State - Disaster - FEMA #

So for Ida in Louisiana you would enter

Louisiana Hurricane Ida FEMA 4611

Wouldn't just "Hurricane Ida" work?  Would it get kicked back for some reason?

11 minutes ago, BG5150 said:

Wouldn't just "Hurricane Ida" work?  Would it get kicked back for some reason?

I mean if you ask the IRS, they tell you to use "state-disaster-FEMA#".  Would it cause an issue to just put Ida, maybe not, but why risk it.

With the FEMA #, they compare the zip on 5500 with the zips granted relief.  

My understanding is that if you file the form 5500 late and the plan sponsors zip code is in a disaster relief area that the IRS accepts the late filing. Is this correct?

We are taking RBGs advice for the two plans we have that are taking advantage of this.

But where do you put the FEMA # on the Form 5500 or do you just alert the IRS in a cover letter etc., of the FEMA #

It goes in the "special extension (enter description)" line just underneath the Form 5558 line.