Electronic Filing of Form 5500s Now Required
Beginning January 2010, all Form 5500s Annual Return/Report of Employee Benefit
Plan, except 2008 plan year filings, are now required to be submitted by the plan sponsor via the Department of Labor’s (“DOL”) new electronic filing system called EFAS T2. Paper copies of the Form 5500, other than 2008 plan year filings, will not be accepted by the government.
Now that EFAS T2 is up and running, each individual who signs a Form 5500 on behalf of the plan sponsor and/or the plan administrator will need to go to the DOL website and register for electronic signing credentials, which will enable the appropriate individual to electronically sign the Form 5500 and submit it through EFAS T2. The DOL is planning to send post card notifications inviting Form 5500 signers to apply for their personal credentials but there is no need to wait. Form 5500 signers can log on today and get credentials at, http://www.efast.dol.gov/portal/app/welcome?execution=e1s1.
Instructional tutorials for EFAS T2 are also available on the DOL website at,
http://www.efast.dol.gov/training/EFAS T2%20Tutorial%20Menu.html. Once there, click on “Register” for a demonstration of how to obtain signing credentials.
Information courtesy:
