Beginning with the 2009 year the Department of Labor (DOL) and the IRS now require the form 5500 return for your retirement plan be filed electronically. The purpose of this letter is to inform you of the new mandatory electronic filing requirements (EFAST2) and how you can obtain your "filing signer" credential. We will continue to prepare the 5500 return for you but now you must electronically sign the form 5500. In order to electronically sign the form 5500 you will need to obtain a "filing signer" credential by way of a DOL issued PIN. The DOL will not permit us to obtain the credential on your behalf nor will we be allowed to sign the return for you. To obtain the filing signer credential you must register on the DOL website; the steps on the website are self explanatory but we have non-the-less outlined them for you below:
1. Open your web browser and go to www.efast.dol.gov . On the left side of the page you will see a menu. Click on "Register".
2. Read the privacy statement; check the box indicating you have read the privacy statement, if you accept the terms, hit the acceptance tab. The website will then take you to the next page - "Register Profile Information".
3. Enter all the information requested. Your email address is probably the most important piece of information because the system will use that address to send you a confirmation email. The email address should be one you can access easily and one you monitor often.
4. On the same page, select the "Filing Signer" credential and click the next tab.
5. On the next page "Register - Challenge Information", select a challenge question , provide an answer and click the next tab.
6. On the "Registration Confirmation" page, click ok.
7. The DOL will then send an email to the email address you provided. Note: The DOL indicates that the email will occur immediately. If you do not see the email within a reasonable period of time, you may want to check your junk email or spam folder.
8. In the email, the DOL will provide a link that you will click-on to receive your filing signer credentials (which will consist of a User ID and PIN code). The email message includes a statement indicating that as part of the application you agree not to share the credentials with anyone, including a commercial service provider.
9. When you click-on the link, you will land on the "Register - Challenge Verification Page". You will answer the challenge question and click next.
10. On the next page: "Register - PIN agreement", you will agree not to share the PIN code, check the box indicating that you have read the agreement, and click accept agreement.
11. On the next page: "Register - Signature Agreement", you will indicate, by clicking the accept agreement tab that you understand your electronic signature has the same legal force as a handwritten signature.
12. On the next page: "Register - Finalize", the DOL provides you with your user ID and PIN code. You will click next. Note: We recommend you print this page.
13. On the next page: "Register - Password", you will select a 10-16 character password. The password will allow you to access your User ID and PIN code. After entering your password, you will click save.
14. The last page: "Register - Confirmation", informs you that you have completed the registration process.
Lastly, because the majority of our communication with you regarding the electronic form 5500 will take place via email, please be certain we have your most current email address; the email address you provide should be an email you can easily access as well as one you monitor regularly. Please be certain our Pension Professionals, Inc. email addresses are not blocked and are not classified as SPAM. If your email address changes in the future, it will be very important that you notify us of your email change.
We realize this process can be confusing, as always if you have any questions or concerns, please don't hesitate to contact us.
EFAST2 - Electronic Filing
Copyright Pension Professionals, Inc / California 2014