Every year the Department of Labor (DOL) sends out thousands of edit check letters (notices) and rejects hundreds of Form 5500 returns due to common mistakes such as...

• Failure to use EFAST approved software or the official handprint forms
• Failure to attach all required schedules and attachments to the return before filing
• NEW for 2004 Form 5500, failure to report Separated Participants with Deferred Vested Benefits on additional page 2 of the Schedule SSA
• Failure to completely answer multiple part questions
• Failure to properly reference supplemental information and attachments
• Failure to properly sign and date your Form 5500
• Failure to use the proper EIN and Plan Number
• Filing returns for a period of more than 12 months
• Filing final returns with assets, liabilities and/or participants
• Failure to use a valid "Business Code" that describes the nature of an employer's business
• Failure to use the proper "Plan Characteristics" for employee benefits provided by the plan
• Filing a schedule or attachment by itself without an accompanying Form 5500

If you think your Form 5500 filing may be at risk, contact the 5500Tax Group for a Complimentary Return Review. We focus exclusively on employee benefit tax, compliance issues, ERISA laws and regulation changes.