It was discovered by a f5500 preparer after 10/15 that on 10/15 (under extension) the employer simply mailed the f5500 to EBSA without having signed it. What to do?

1-Wait til EBSA rejects it for lack of signature, or sends it back for one

2-Employer signs an identical copy now and mails to EBSA

3-An identical f5500 is marked "amended" then signed and mailed to EBSA

John:

I think option 1.

This happened once to one of my clients and about six weeks after the filing, the IRS sent their usual "respond in 30 days the 5500 is incomplete" correspondence.

We were not made aware of the issue until we were sent a copy of the IRS correspondence.

Becoming aware of the issue prior to acknowldegement from the IRS, my second choice would be option 3.

I would elect #4--DFVCP--sicne the penalty is only $10/day at this point. Pay the $50+ & not to worry about potential rejection.

But the penalty for not filing by 10-15 is $10 a day back to 7-31.

I would wait. (Agreed the penalty starts at 7/31.)

I stand corrected--the delinquent filer penalty (at $10/day from the unextended due date) currently stands at the maximum for a small plan (i.e., $750), but less than the masimum for a large plan. Still, if rejection of the filing is a distinct possibility--and it may not be, if the expectation is that it will be returned with a request to sign--then a delinquent filing would cost the client considerably less and get rid of the problem once & for all.

Somewhat related but different - Upon receipt of 5500 last week, client reviewed, realized there were additional assets not sent to us but which should be included, so she held on to 5500, contacted investment company for additional reports, and upon receipt yesterday, contacted us that she had additional information and not to worry because she did not send in the original 5500. Sounds like it is simply a late dfvc filing so it should be sent in without the 5558. However, can she send in a letter explaining her intention of wanting to file the form correctly rather than not at all, and if so does she send it with the 5500 or to the dfvc address?