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Posted

OK, this one is on me - I started a new 403b plan for a NFP that was winding down their 401k, and I accidentally used plan number 001 in my document.  Of course, the 401k plan is using that number, so I should have used 002.  Therefore, 002 was not extended for the 12/31/22 5500-SF.  Whoopsie.

Isn't there a thing where you can use the corporate extension instead of the 5558?  And doesn't an NFP have an initial filing date of 5/15, which then gets extended until at least 10/15?  This sounds familiar.  Is it available for a NFP?

Thanks.

Posted

See instructions to Form 5500, you can if you meet the following conditions.

An automatic extension of time to file the Form 5500 Annual Return/Report until the due date of the federal income tax return of the employer will be granted if all of the following conditions are met: (1) the plan year and the employer’s tax year are the same; (2) the employer has been granted an extension of time to file its federal income tax return to a date later than the normal due date for filing the Form 5500; and (3) a copy of the application for extension of time to file the federal income tax return is maintained with the filer’s records. An extension granted by using this automatic extension procedure CANNOT be extended further by filing a Form 5558, nor can it be extended beyond a total of 9½ months beyond the close of the plan year.

Note.  A tax-exempt organization is not required to file a federal income tax return. However, if the organization uses a Form 8868 to request an extension for its Form 990 series return, the filer is automatically granted an extension of time to file the Form 5500 until the extended due date of filing Form 990 series if all conditions listed above are met. An extension granted by using this automatic extension procedure cannot be extended beyond a total of 9½ months beyond the close of the plan year.

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