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5500 Preparer's Manual for 2012 Plan Years

5500 Preparer's Manual for 2012 Plan Years
The premier resource in the field of Form 5500 preparation, 5500 Preparer's Manual will help you handle the required annual Form 5500 filings for both pension benefits and welfare benefit plans.


IRS requires use of most recent Form 5307 for determination letter applications

Form 5307 determination letter applications for adopting employers of pre-approved plans, postmarked on or after August 1, 2009, must be submitted using the most recent version of Form 5307, Application for Determination for Adopters of Master or Prototype or Volume Submitter Plans (Rev. March 2008), according to the IRS Employee Plans News. The IRS stated that it will return applications that are filed using an earlier version of Form 5307 to the applicant.

Announcement 2008-23 noted that Form 5307 was being revised to allow the form to be optically scanned to improve processing of applications and that applications filed with the previous version of Form 5307 (Rev. September 2001) would be accepted through September 30, 2008. However, the IRS has continued to receive numerous applications using the September 2001 version of Form 5307. In order to expedite the processing of applications using optical scanning, the IRS has stated that it will stop accepting applications postmarked on or after August 1, 2009, that are not filed on the current Form 5307 (Rev. March 2008).

SOURCE: IRS Employee Plans News, Volume 9/Summer 2009.

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