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CCH® PENSION — 08/18/10

DOL will not provide blanket extension for 2009 Form 5500 filings

After consulting with the IRS and the Pension Benefit Guaranty Corporation, the DOL has decided not to grant a blanket extension to filers of the 2009 Forms 5500 and 5500-SF. In a letter to the American Benefits Council, the DOL stated that such an extension was "neither necessary nor appropriate." The American Benefits Council had requested a blanket extension for the 2009 plan year filings to the later of (1) 9 ¹/₂ months after the end of the plan year or (2) December 31, 2010.

Although the DOL recognized that some plans may need more time to file their 2009 Form 5500 or Form 5500-SF, the Agency believed that the current processes for obtaining extensions will adequately address those plans' needs. According to the DOL, filing Form 5558 to obtain an extension will not impose a significant burden on those plans that need a filing extension. However, a blanket extension "would require changes to systems, which may be both complicated and costly."

Source: DOL letter to American Benefits Council, July 21, 2010.

For more information on this and related topics, consult the CCH Pension Plan Guide, CCH Employee Benefits Management, and Spencer's Benefits Reports.

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