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| A: If you are a plan administrator for a Fidelity Retirement Plan (Profit Sharing or Money Purchase Plan or Self-Employed 401(k)), defined benefit plan, corporate pension and profit sharing plan, certain 403(b) plans or a 401(k) plan, generally you must file a Form 5500 each year. |
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| If you have a single-participant plan (you, or you and your spouse as the only participant(s)), you should generally file Form 5500-EZ. Employers who are eligible to file Form 5500-EZ and have one or more plans that, separately or together, have $250,000 as of January 1, 2007, or less in aggregate plan assets at the end of the plan year are not generally required to file Form 5500-EZ. |
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| If you have participants in your plan other than you or you and your spouse, you should file a Form 5500 each year for each plan you maintain. |
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| A: The 5500 Report must generally be filed by the last day of the seventh month following the end of the plan year, unless an extension has been granted. For calendar year plans, the deadline is normally July 31. Form 5500 or 5500-EZ must be filed with the Employee Benefits Security Administration (EBSA), not the IRS. Refer to the IRS Instructions for Form 5500 or Instructions for Form 5500-EZ to determine the filing address for your form. You may want to mail your 5500 filing by certified or overnight delivery for proof of mailing. Refer to the IRS list of approved private delivery services in the Instructions. |
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| A: Generally, you may request an extension by filing IRS Form 5558 by the unextended due date of your Form 5500. An extension of up to two and one-half months may be granted. You can request a copy of Form 5558 directly from the IRS. Plans eligible to file Form 5500-EZ are automatically granted an extension for filing Form 5500-EZ until the extended due date of the employer's Federal income tax return, provided certain conditions are met. Please refer to the IRS Instructions for Form 5500-EZ for details. |
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| A: Yes. If you terminated your plan during 2008, a final Form 5500 is generally due on the last day of the seventh month following the date of the plan termination, even if you were never required to file before. |
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| A: You, the employer, assign the plan number. Your first plan is 001, your second plan is 002, etc. You designate the plan number according to your own records. (For example, your Profit Sharing Plan may be 001, your Money Purchase Pension Plan may be 002, etc.) |
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| A: The latest IRS opinion letter for the Fidelity Retirement Plan (Profit Sharing and Money Purchase Plans and the Self-Employed 401(k) plan) is dated March 31, 2008. |
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| The latest IRS opinion letter for the Fidelity Defined Benefit Plan is dated June 3, 2002. |
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| If your plan is: |
The opinion/notification number is: |
| A stand alone profit sharing plan |
M280106a |
| A profit sharing plan with a safe harbor 401(k) |
M280106a |
| A profit sharing plan with a traditional 401(k)* |
aM280114a |
| A money purchase plan |
M280112a |
| A defined benefit plan |
K273943a |
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| A: Either method is acceptable, but you should be consistent from year to year. Your Annual Valuation Statement reports your plan's assets on a cash basis rather than an accrual basis. Consult your tax advisor. |
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| A: Yes, unless you are eligible to file Form 5500-EZ and the combined assets of all plans were $250,000 or less at the end of the plan year. If however, you have more than $250,000 in plan assets, a separate Form 5500 or Form 5500-EZ should be filed for each plan. |
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| A: Forms 5500 and 5500-EZ are available in two formats. The first, the Hand Print format, can be completed manually; the second, the Machine Print format, is a special machine format that |
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| To order forms you can complete manually, please contact the IRS at 800-TAX-FORM. Fidelity does not provide blank forms. For information on machine-formatted forms, or to review software requirements, please visit the Employee Benefits Security Administration web site at efast.dol.gov. |
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| A: For answers to your filing questions, please contact your tax advisor or the Employee Benefits Security Administration (EBSA) (1-866-463-3278). Additional information, including 5500 Filing Tips, is available at the EBSA 5500 web site: efast.dol.gov. |
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| A: A deceased participant's assets must be reported as an asset of the plan until those assets are distributed from the plan to a beneficiary. |
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