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INDUSTRY NEWS
Benefit Administration would like to keep you updated on the most current industry news. You may click on the following topics to see in-depth articles.
DOL Gives Small Employers Seven Days to Deposit Contributions
The U.S. Department of Labor (DOL) announced the publication of a final rule to protect employee contributions deposited to small pension and welfare benefit plans with fewer than 100 participants.
EFAST2 - Paper option is no longer available for filing 2009 Form 5500
It’s been a long time coming, but the Department of Labor’s mandatory electronic filing system for Form 5500s (known as EFAST2) is finally here!
Effective January 1, 2010, all Form 5500s must be filed electronically through the new system — and it starts with reporting for the 2009 plan year. All plan sponsors will be required to have a User ID, PIN, and password in order to file a Form 5500. We will be instructing all clients as to how to accomplish this in the coming weeks.
Other Topics of Interest:
BAI NEWS
Key Dates:
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Date
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Activity
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December 1, 2009
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Safe Harbor notices due to employees
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December 15-30, 2009
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BAI requests census data for 2009 calendar year end plans
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January 29, 2010
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Census data due for non Safe Harbor plans
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February 2010
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Census data due for Safe Harbor plans
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March 5, 2010
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ADP testing completed by this date to avoid penalty for late refunds
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March 15, 2010
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ADP refunds processed after this date are subject to a 10% penalty
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July 31, 2010
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Form 5500 due for calendar year end plans
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October 15, 2010
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Final deadline for extended 5500 filings
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