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BenefitsLink Newsletter

New U.S. tax and labor law materials on the net pertaining to
employee benefits, for employers, participants and service-providers.
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IRS News Release 99-92

WASHINGTON -- The Internal Revenue Service and the U.S. Department of
Labor's Pension and Welfare Benefits Administration have granted
extensions to pension and other employee benefit plans (Form 5500
filers) in the federal disaster areas due to Hurricane Floyd and
Hurricane Irene. Plan administrators will have until November 30,
1999, to file required returns/reports.

The extension applies to employee benefit plans, banks and insurance
companies located in the counties designated as federal disaster
areas. It also applies to plan administrators located outside the
disaster areas who are unable to obtain the information necessary for
filing from service providers, banks or insurance companies whose
operations are located in the disaster areas.

The agencies will not impose late filing penalties for pension and
employee benefit plan returns/reports and related excise taxes due on
or after September 15, 1999, if they meet the November 30th deadline.

To qualify for the extension, returns/reports must be labeled
"Hurricane Floyd" or "Hurricane Irene," as appropriate, across the top
margin of the first page. The return/report of an employee benefit
plan not located within a designated disaster area must have an
attachment identifying the plan's service provider affected by the
disaster and the county in which the service provider is located.

 (Original online PDF version of this document is at
 http://www.fedworld.gov/ftp/irs-news/ir-99-92.pdf)

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Tip: a map of the federally-designated disaster areas is online at -

    http://www.fema.gov/disasters/

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