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Erisanubee
If you mail in the 5300 before the 10 day period ends, what's the best way to confix the problem. Call and ask the Form 5300 not to be filed until the 10 days is up? Thanks for the help.
Mike Preston
You don't need to do anything. The IRS/DOL will automatically add the correct number of days to ensure that the participants have the right to comment for the requisite number of days. As long as you have indicated the date that the NTIP actually went out, it should be fine. At least that is what they told me the one time a couple of years ago when we got confused on our dates. We received the letter of determination.
Erisanubee
Unfortunately, the notice lists the 29th of this month, and we mailed the application on the 23rd. Should we contact someone to let them know to keep the notice period open longer or notify the agent that gets our application?
Mike Preston
Lists the 29th for what? I would expect the order of the dates to be reversed from what you are describing, so I must not be understanding. Sorry.
Erisanubee
Sorry. The notice said we'll file on the 29th. We sent out the Form 5300 to the IRS on the 23rd by mistake.
Mike Preston
Sending early to the IRS is not a problem. They key off of the date that the NTIP was provided to the participants.
Erisanubee
We set 1/29 as the date when we would file on the NTIP, so all of the dates on the NTIP for when comments are due were based on the 1/29 date. We sent the NTIP to the company on 1/17 to give out to the participants, and the Form 5300 was mailed to the IRS on 1/23.
Mike Preston
Check the dates on the 5300.
KED
Mike -- I think you may be confusing the Form 5300 with the Form 5310. Form 5310 specifically asks the date the NTIP was provided. Form 5300 just asks if the NTIP was timely provided and you check the "yes" or "no" box. It does not ask the date the NTIP was provided.
Erisanubee
That's where I was confused by the answers I was receiving. The Form 5300 does not have a date to put in for when the NTIP was filed. I can't imagine that requesting that the application be treated as if it was filed on the 29th is going to be a big deal, but maybe I am being naive.
Mike Preston
I've only seen a comment to DOL made once in my life and they asked for a copy of the NTIP from the commenter to determine whether the comment was timely. You are ok.
Erisanubee
Thanks Mike. It was my first one, so I was a little overzealous on filing it with the timeline.
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