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Deadline for 5500 Filing Extended
From BenefitNews.com:
The Labor Departments Pension and Welfare Benefits Administration has extended the deadline for filing Form 5500 and Form 5500-EZ to allow plan administrators and employers time to address filing difficulties that arose due to last week's terrorist attacks.
The extension applies to filers located in designated federal disaster areas, as well as those outside of disaster areas unable to obtain necessary information from service providers, banks or insurance companies whose operations are directly affected by the disasters
Filings originally due between Sept. 11 and Nov. 30 will be allowed an additional six months plus 120 days. Current extensions that expire between those dates are allowed an extra 120 days. Those with difficulty meeting filing deadlines due to disrupted mail service must file by Nov. 15.
PWBA also recognizes plan sponsors and employers will encounter "other [ERISA] compliance-related issues and concerns" as complications due to the tragedies unfold. Acknowledging "there may be instances when full compliance my not be possible," PWBA Assistant Secretary Ann Combs says "the guiding principle must be to ensure that appropriate efforts are made to act reasonably, prudently and in the interest of the workers and their families."
For more information, contact the PWBA Help Desk at 866/463-3278, or visit www.dol.gov/dol/pwba.
The Labor Departments Pension and Welfare Benefits Administration has extended the deadline for filing Form 5500 and Form 5500-EZ to allow plan administrators and employers time to address filing difficulties that arose due to last week's terrorist attacks.
The extension applies to filers located in designated federal disaster areas, as well as those outside of disaster areas unable to obtain necessary information from service providers, banks or insurance companies whose operations are directly affected by the disasters
Filings originally due between Sept. 11 and Nov. 30 will be allowed an additional six months plus 120 days. Current extensions that expire between those dates are allowed an extra 120 days. Those with difficulty meeting filing deadlines due to disrupted mail service must file by Nov. 15.
PWBA also recognizes plan sponsors and employers will encounter "other [ERISA] compliance-related issues and concerns" as complications due to the tragedies unfold. Acknowledging "there may be instances when full compliance my not be possible," PWBA Assistant Secretary Ann Combs says "the guiding principle must be to ensure that appropriate efforts are made to act reasonably, prudently and in the interest of the workers and their families."
For more information, contact the PWBA Help Desk at 866/463-3278, or visit www.dol.gov/dol/pwba.
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