The Department of Labor’s Employee Benefits Security Administration (EBSA) on Feb. 4 updated five frequently asked questions concerning electronically filing the Form 5500 via the EFAST2 system.
Following are the changes EBSA made:
- FAQ 4. This FAQ concerns how to submit a delinquent or amended Form 5500 return/report for a Title I plan. EBSA updated the FAQ to refer to delinquent and amended filings for plan years earlier than 2011.
- FAQ 23b. This FAQ concerns whether, if the Plan Administrator name and address are the same as the Plan Sponsor, a filer needs to check both the "Same as Plan Sponsor Name" and the "Same as Plan Sponsor Address" checkboxes in Line 3a of the Form 5500 and Form 5500-SF. EBSA updated the FAQ to add a reference to the 2014 form version "Same as Plan Sponsor" checkbox.
- FAQs 23a and 33a. EBSA updated these FAQs to remove references to 2009 and 2010 forms, which are no longer active. FAQ 23a concerns how to enter special characters such as asterisk into the Plan Name, Sponsor Name, Administrator Name and/or DFE Name fields, and FAQ 33a concerns whether a service provider that assists clients in managing the filing process can electronically sign the Form 5500 for his or her client.
- FAQ 39. EBSA updated this FAQ, which concerns how to submit an amended annual return/report (Form 5500 or Form 5500-SF), to refer to amended filings for plan years 2011 and later.
- FAQ 42. EBSA updated this FAQ, which concerns whether the public can view Form 5500 and Form 5500-SF filings online, to note that Form 5500-SF filings marked as "foreign" plans will not be publicly displayed on the EFAST2 public disclosure website.
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