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American Academy of Actuaries Comment Letter to IRS on Annual Return / Report of Employee Benefit Plan (Form 5500) (PDF)
American Academy of Actuaries
[Opinion] Sept. 23, 2013 "The committee's concerns specifically relate to the electronic submission of the data on Schedules SB and MB, and on no other issues.... In order to achieve a complete electronic file, very often the vendor preparing Form 5500 must re-type the Schedule SB/MB information provided by the plan's Enrolled Actuary into the Form 5500. This is of grave concern to the committee as it threatens the integrity of the certified actuarial valuation results because of the possibility of a manual input error; the Enrolled Actuary does not have the ability to review that information before it is submitted as final through E-FAST." MORE >> |
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