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Form 5500 -

Electronic Filing Requirement

March 2011
There is a new mandatory electronic filing requirement (known as "EFAST2") that now applies to your Form 5500 filings. Paper filings will no longer be accepted starting with the 2009 Plan years (as well as for previous years amended 5500 or filings under the DFVCP). The electronic filing procedures require that the form(s) be signed electronically.

In order to do this, you (or the person who will be signing the form) will need to obtain "filing signer" credentials by registering on the Department of Labor (DOL) website. This procedure is only required the first year; once the process is complete you can use the User ID and PIN provided by the DOL in future years. These credentials are assigned to you or the person who will be signing the form personally, not the company. If a different person signs the Form 5500 filing(s) in a future year, that person will have to register with the DOL to obtain signing credentials if they have not already obtained them.

For this year, we recommend that the credentials be obtained as soon as possible, so that they will be ready for use when we complete your return in the upcoming months. The DOL will not permit us to obtain the credentials on your behalf.

Once you are on the registration website (http://www.efast.dol.gov), the steps are intended to be self-explanatory but we have outlined the steps on the attached PowerPoint presentation. We suggest that you set aside approximately 15 minutes to complete the process, but keep in mind it may take longer because there are several steps involved.

If you run into any difficulties, please let your Summit contact know. Once you obtain your UserID and PIN, please keep available for future reference as you will need them to file this and subsequent years Forms 5500.

Follow the link below to the Presentation that will assist you obtaining electronic signing credentials. 

ERISA Filing Process (PPT 5.24 MB)

The materials created through August 2011 are when the professionals of Summit Financial were with Ogilvie Security Advisors Corp. The professionals of Summit Financial have not been with Ogilvie Security Advisors Corp. since August 31, 2011 and have no further affiliation with that organization.
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Securities and advisory services offered through Commonwealth Financial Network, Member www.finra.org and www.sipc.org, a Registered Investment Adviser. Fixed insurance products and services, as well as benefits consulting and plan administration, offered by Summit Financial Corporation are separate and unrelated to Commonwealth. Fixed insurance products and services, as well as tax services, offered by Summit Financial Strategies, Inc. are separate and unrelated to Commonwealth. This communication is strictly intended for individuals residing in the states of AL, AZ, CA, CO, CT, DC, DE, FL, GA, IL, ME, MD, MA, MI, NV, NH, NJ, NY, OH, OR, PA, RI, SC, TN, TX, VT, VA. No offers may be made or accepted from any resident outside these states due to various state regulations and registration requirements regarding investment products and services.