IRS Tax: 5500 for 2009 and Later Required to be Filed Electronically

Starting with plan years beginning on or after January 1, 2009, the Department of Labor (DOL) will process Forms 5500 and 5500-SF exclusively through its Employee Retirement Income Security Act Filing Acceptance System (EFAST2). Paper versions of Form 5500, Annual Return/Report of Employee Benefit Plan, and Form 5500-SF, Short Form Annual Return/Report of Small Benefit Plan, will not be available for plan years starting on or after January 1, 2009.

Also for 2009 and later plan years, all "one-participant" plans will have the option to file Form 5500-SF electronically in place of a paper-only Form 5500-EZ. One-participant plans that file the electronic Form 5500-SF need to only complete those questions on the Form that they would have completed had they filed the paper version of the Form 5500-EZ. The 2009 Form 5500-EZ (paper format) will be available in early 2010.

Schedule SSA, (Form 5500) Annual Registration Statement Identifying Separated Participants with Deferred Vested Benefits, is being eliminated as a schedule to Form 5500 series and will become its own form. You cannot file the SSA electronically until the 2010 plan year. We will provide more electronic filing information for the 2009 plan year SSA data in the next few months.

Finally, for the 2009 plan year, certain retirement plans maintained outside the U.S. primarily for the benefit of nonresident aliens are instructed to file Form 5500-EZ rather than Form 5500.

If you need help completing the 2009 Form 5500 or 5500-SF or have related questions, call the EFAST2 Help Line (tollfree) at 866-463-3278, Monday through Friday from 8 a.m. to 8 p.m. ET, or, visit the EFAST2 Web site.