Stash026 Posted December 18, 2020 Posted December 18, 2020 I had been told a long time ago that we needed to get an EIN# specific to the plan and not use the employers on the Form 5500. Is this no longer the case? One of our clients got a notice and it would appear that we should be using the employer's EIN# to file the Form 5500. Sorry if it's a silly questions, just wanted to confirm. Thanks in advance!
Bird Posted December 18, 2020 Posted December 18, 2020 The form calls for the employER id number. It is sometimes advisable to get a separate plan id number, e.g. if the plan is not on a platform and you need to report distributions on Form 1099-R. We used to put the plan number on Schedule P but that is long gone/showing my age. I think the only place now the plan id number would appear on a 5500 form is Schedule R. Luke Bailey 1 Ed Snyder
CuseFan Posted December 18, 2020 Posted December 18, 2020 2 hours ago, Bird said: form calls for the employER id number Correct - ALWAYS use Employer's EIN on 5500. ONLY use Trust EIN (plan's do not get EINs but trusts do) on 1099-R and Sched R. And Bird is showing his/her age by mentioning Schedule P! ESOPMomma, Bill Presson, Luke Bailey and 1 other 3 1 Kenneth M. Prell, CEBS, ERPA Vice President, BPAS Actuarial & Pension Services kprell@bpas.com
BobbyV Posted December 22, 2020 Posted December 22, 2020 I have fond memories of Schedule P Bill Presson 1
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