New Client Options dialog (5500)

Alerts and notices

Use this dialog to set miscellaneous options that will apply to all 5500 clients subsequently added to UltraTax CS.

To open this dialog, choose Setup > 5500 Benefit Plans, then click the New Client Options button.

Notes

  • Depending on your security configuration, you might be prompted to enter the master password before you can open any entity type's tab.
  • All of these options can be overridden on a client-by-client basis. For details, click the field-specific links below.

UltraTax CS automatically completes the balance sheet and income statement from the data entered on Screens Balance, Income, and FinInfo for Form 5500. (These screens are in the Income/Balance folder.) To suppress this information and prevent the corresponding pages from printing, mark this checkbox.

Notes

  • This option applies to all 5500 clients subsequently added to UltraTax CS.
  • This option will also suppress Schedule H or I from being included in the electronic file.
  • To set this option on a client-by-client basis (or to override this option for a specific client), mark or clear the Suppress Schedule H or I (financial statements) from printing field on Screen 5500.

To have UltraTax CS automatically transfer all applicable financial data from supporting schedules to the financial statements, mark this checkbox.

If this checkbox is marked, UltraTax CS reports the information entered on Screens Balance and Income in addition to any items from the other schedules (such as Schedule A) on the financial statements.

Notes

  • This option applies to all 5500 clients subsequently added to UltraTax CS.
  • To set this option on a client-by-client basis (or to override this option for a specific client), mark or clear the Transfer applicable items to financial statements field on Screen 5500.

Mark this checkbox to have UltraTax CS generate a client mailing transmittal letter and / or slipsheet with the participant package using the sponsor or employer name rather than the firm name.

Notes

  • This option applies to all 5500 clients subsequently added to UltraTax CS.
  • To set this option on a client-by-client basis (or to override this option for a specific client), mark or clear the Participant transmittal letter / slipsheet from sponsor / employer field on Screen Letter.

Mark this checkbox to suppress the heading on the participant transmittal letter when using paper with the firm letterhead.

Notes

  • This option applies to all 5500 clients subsequently added to UltraTax CS.
  • To set this option on a client-by-client basis (or to override this option for a specific client), mark or clear the Suppress heading on participant transmittal letter field on Screen Letter.

Select Paper, Email (PDF), or File (PDF) from the drop-down list to specify the delivery method. The method selected will be reported in the Return Delivery column of the Setup > Client Communications dialog.

Notes

  • The tax return delivery method can be viewed (but not changed) in the client's Screen Contact, located in the General folder.
  • This option applies to all 5500 clients subsequently added to UltraTax CS.
  • To set or override this option on a client-by-client basis, choose the appropriate item from the drop-down list in the Return Delivery column in the Setup > Client Communications dialog.

UltraTax CS defaults to printing both the U.S. mail and private delivery address in the filing instructions. To change this default, select the appropriate option from the drop-down list.

Notes

  • This option applies to all 5500-EZ clients subsequently added to UltraTax CS.
  • To set this option on a client-by-client basis (or to override this option for a specific client), make a selection or clear the Mailing address for filing instructions field on Screen Letter.

Related topic: 5500 Federal tab

Share This