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ELECTRONIC FILING UPDATE

 

As you know, the 2009 plan year was the first year for which electronic filing of Form 5500 was required.  Part-way into the initial e-filing season, the government introduced the E-File Authorization alternative.  Under this option, your consultant at MBC Retirement Services can apply the electronic signature to your Form 5500 on your behalf.  This means plan sponsors will not have to visit the electronic filing website and apply their User IDs and PINs.

Clients who would like to take advantage of this service should sign and return the enclosed Authorization to E-File as part of their year-end census information.  Note a faxed or emailed copy is acceptable.

If you elect Authorization to E-File, you will receive an electronic copy (or paper, if requested) of your entire year-end package as soon as your plan’s Form 5500 is available to file.  At that time you must return a hand-signed copy of just the Form 5500’s signature page.  Note a faxed or emailed copy is acceptable.  Once MBC receives the signed signature page, we will publish your 5500 to the electronic filing website, e-sign it, and transmit it to the Department of Labor on your behalf.  If there are any filing or signing errors, your consultant at MBC likely will be able to correct them without additional involvement from you. 
Note the E-File Authorization alternative is available to you at no additional charge.

If you do not return the Authorization to E-File, the electronic filing process will be substantially the same as it was for 2009 plan years.  When your Form 5500 is ready, we will send you an electronic copy (or paper, if requested) of your entire year-end package, and we will publish your Form 5500 to an electronic filing website.  At that time you will be notified via email that you must electronically sign the form.  Once the form has been signed, MBC will transmit it to the Department of Labor.  If there are any filing or signing errors, your consultant at MBC will contact you regarding the process to make corrections. 

If you have any questions regarding Authorization to E-File or any aspect of the electronic filing process, please contact your consultant at MBC.