5500-US ELF: Posted returns are not considered accepted returns (FAQ)

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MFA required for electronic filing

Effective May 3rd, the 2017 version of UltraTax CS requires multi-factor authentication (MFA) to transmit e-files from CS Connect. Find out more.

Question

The electronic file for my benefit plan shows a rejection, but the Form 5500 has been filed and printed on the Department of Labor (DOL) website. Does this guarantee an accepted return?

Answer

When the DOL processes a return, the DOL indicates that the return is "accepted," even if the return contains errors; in this instance, the electronic file for the benefit plan will show a rejection in UltraTax CS. If a return is "accepted" but contains errors, the tax preparer should review and file a corrected return. For additional information, review question 38 of the FAQs on EFAST2 Electronic Filing System.

If the filing status on the DOL website is “Filing_Received,” “Filing_Error,” or “Processing_Stopped,” the annual return / report is considered received. After the return is received by the EFAST2 system, filings may be subject to further detailed review by the DOL, IRS, and/or PBGC. Filings with a status of “Filing_Error” or Processing_Stopped” must be corrected by filing an amended return.

If the return is retransmitted, Thomson Reuters will transmit the return as an amended return.

Related topic: 5500-US ELF: Electronic filing FAQs

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