SunGard Relius

2013 Form 5500 Workshop
Issues and Answers

One of the primary purposes of EFAST2 was to make IRS and DOL enforcement more timely and effective. Every indication suggests that the government is following through on its promise. If you have wondered why the IRS or DOL is auditing or investigating your clients’ plans, you probably need look no further than the answers and information included on the Form 5500. EFAST2 now allows the IRS and DOL to “target more accurately and effectively those plan filings we want to go after.”

Within a couple of months of filing in 2012, the DOL sent out thousands of letters: rejecting filings, identifying filing errors requiring amendment, or requesting plan sponsors to resolve issues under other government programs. In particular, many large plans found themselves on the receiving end of a DOL letter regarding Schedule C. In this year’s Form 5500 Workshop, speakers identify those questions and issues that are likely to raise concerns with the government and offer possible solutions to avoid or minimize problems.

In addition to explaining the Form 5500 enforcement issues, speakers address troublesome 5500 filing issues and explain how to resolve those frustrating and time-wasting errors. Not only does the Workshop provide a line-by-line review of the Form 5500 and each schedule; it also addresses issues that disrupt the timely and accurate completion of the forms. For many preparers, EFAST2 procedures continue to be challenging. In this year's Workshop, speakers identify the typical electronic filing issues and explain how to comply with the electronic filing procedures. The program also looks at the new “optional” questions, and discusses how to approach them.

The Workshop also explains Forms 8955-SSA and 5558, the individual statement requirements and the filing procedures. Other important issues we will address include welfare plan filing issues, 403(b) filing issues, the effect of termination and mergers on 5500 filing, 5500 amendments, deadlines, extensions, penalties (how to reduce or avoid), etc.

Our Form 5500 Workshop will help prepare practitioners to handle each of these issues, and will provide new or changed guidance on the DOL issues, and more.

Topics include:

• DOL/IRS enforcement issues
• Red flag issues
• EFAST2 troubleshooting
• Form 8955-SSA/ individual statement
• When is a merger complete?
• Schedule C case studies
• Form 5500-SF: readily ascertainable value
• 403(b) plan filing requirements
• 5500-EZ Eligibility rules
• Amending plans: which forms?
• Welfare plans: who’s a participant
• Line-by-line review of:
  • 5500/5500-SF/5500-EZ
  • Financial Schedules (H and I)
  • Insurance (Schedule A)
  • Fee disclosure/ Termination of account/actuary (Schedule C)
  • Retirement plan information (Schedule C)
  • Direct Filing Entities (Schedule D)
  • Schedule G
  • Schedule R
  • Form 5558
  • Form 8955-SSA

NOTE: Back-to-back scheduling! In most locations, the Form 5500 Workshop is followed on the next day by the 401(k) Plan Workshop. A multi-program registration discount is offered for those who wish to attend both programs at the same location.

Who Should Attend:
The Form 5500 Workshop benefits preparers at all levels of experience. Beginners learn how to complete the forms accurately. Experienced preparers receive an excellent review of the forms and pick up valuable pointers on how to complete the difficult questions.

Third party administrators, consultants, attorneys, accountants, actuaries, trust officers, investment advisors, insurance agents, corporate benefits staff – including compensation and human resources – and others involved with plan design, compliance, administration, and reporting will all benefit from this program.

Objectives: Upon completion of the Form 5500 Workshop, the attendee should be able to:

1. Identify which questions and responses will likely invite IRS/DOL audits or investigations
2. Prepare and file a Form 5500 electronically under EFAST2
3. Complete the Form 5500 and accompanying schedules correctly
4. Properly report different types of compensation on the Schedule C
5. Determine the proper filing procedures for a terminated or merged plan
6. Resolve the filing statuses of “filing error” and “filing stopped”
7. Determine when to use Form 5500-SF or 5500-EZ
8. Complete a Form 5500 for a 403(b) plan
9. Complete a new IRS Form 8955-SSA
10. Determine whether the plan satisfies the small plan audit waiver

ADDED VALUE!
Form 5500 Workshop 2013 attendees receive a complimentary registration for one of these upcoming Relius Education Web seminars (recorded) – a $190 value: