Update on the 2009 Form 5500 and EFAST2

The DOL’s EFAST2 electronic filing system for Form 5500 has been up and running since January 1, but many plan sponsors have only recently begun grappling with the nuances of the system. And with time running out for most plan sponsors, this is a last chance to make sure you get it right.

If you’ve heard a bit about EFAST2 but you’re still wondering about your options for complying with the e-filing mandate, this 90-minute interactive audio conference will provide you with a detailed look at what you need to know. You’ll get expert insights on EFAST2 and full explanations of all the changes to the form and schedules for reporting on the 2009 plan year, including a practical discussion of how to deal with significantly expanded fee reporting on Schedule C. You’ll also get an understanding of the pros and cons of I-FILE, the new alternative electronic filing option, and the problems EFAST2 users have encountered so far this filing season.

Form 5500 hasn’t changed this much in 10 years, and you’ll be much better able to cope with the revisions after attending this informative session.

How You Will Benefit From Attending This Audio Conference:

• Learn about the types of registration credentials available to those who use EFAST2
• Get a better handle on the mechanics of submitting 5500s under the new system, including filing on the web using the DOL’s I-FILE system
• Discover how you may need to revamp your workflow and processes to accommodate electronic filing
• Get practical help on completing the 2009 Schedule C, including an overview of how the schedule would be completed based on common plan scenarios
• Learn about the pros and cons of various e-filing platforms, including the ability to have a third-party provider electronically file Form 5500s on behalf of plan sponsors

Attendees Who Will Benefit From This Audio Conference Include:

• Anyone who prepares or works with Form 5500, including:
  • Retirement plan administrators/recordkeepers, actuaries and other TPAs
  • Employee benefit plan auditors
  • CPAs who work with and advise their clients on benefit plan filings
  • HR personnel who work with benefit plan filings
  • Employee benefits professionals/consultants
  • Employee benefits tax specialists

Erik Pienkos is a senior manager in the Chicago office of Grant Thornton LLP’s Compensation and Benefits Consulting practice.In this function, Erik heads up the firm’s employee benefits compliance practice for the Midwest region, and provides technical support concerning qualified plan matters to clients and other firm professionals throughout the U.S.  For nearly 15 years, Erik has worked with hundreds of clients to design effective benefit plans and to ensure that the plans, once implemented, remain in compliance with all applicable legal requirements.  He has extensive experience dealing with reporting and disclosure issues related to benefit plans, and works closely with the firm’s Employee Benefit Plan Audit practice to identify and correct plan operational defects.

Erik is a member of the American Society of Pension Professionals and Actuaries (ASPPA), the International Foundation for Employee Benefit Plans (IFEBP), the American Institute of Certified Public Accountants and the Illinois CPA Society. He is a licensed public accountant in Illinois, and Chairman of the Illinois CPA Society’s Tax/ERISA Special Interest Group and Employee Benefits Conferences, and has received professional designations from both ASPPA and IFEBP. Mr. Pienkos has extensive experience speaking and presenting on Form 5500 issues.