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    5500 Extension Filing Deadline Fast Approaching

    5500-extension-filing-deadline-fast-approaching-body.jpgIf you've been following my last few posts about preparing for a 401(k) plan audit, then you know that it's 401(k) plan review season for businesses. If your 401(k) plan year end is December 31 and if you or your recordkeeper filed a 5500 extension, that extension deadline is October 16, 2017, which is quickly approaching.

    Related Reading: How to Prepare for an Auditor On-Site Visit (Yes, They Really Do Visit)

    Here are some tips to help you have a smooth filing:

    1. Be sure to have your Department of Labor (DOL) Employee Benefits Security Administration (EFAST) Login ID and PIN. If you do not have a Login ID and need to register for one, you can do that directly on the EFASTwebsite.

    2. Ensure your 5500 has been signed and dated in appropriate sections.

    3. Ensure any attachments, if applicable (Ex. Auditors Opinion Letter), are uploaded with the 5500.

    4. Try not to wait until the very last minute to file on the DOL EFAST website. Just like any other web page, you don’t want to run the risk of getting errors or the website crashing in the final hours.

    If you have questions about an audit or would like to speak with one of our Wealth Advisors about your 401(k) plan, click here to meet our team and schedule an appointment.

    Related Categories

    Retirement & Succession Plans

    Reuben Escobedo

    Reuben joined SWBC in October of 2014 as a Retirement Plan Specialist with Human Resources. He supports and administers the SWBC 401(k) Profit Sharing Plan and SWBC Non-Qualified Deferred Compensation Plan. Prior to coming to SWBC, Reuben was at American Funds for 14 years. His last 6 years with American Funds were spent as a Relationship Retirement Coordinator where he managed up to 81 401(k) plans that totaled $500 million in assets. Reuben has been in the Retirement Business since 2000.

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