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The U.S. Department of Labor’s Pension and
Welfare Benefits Administration and Internal Revenue Service today extended the
deadline for filing annual returns/reports (Form 5500 series) due to Hurricanes
Floyd and Irene.
The extension applies to employee benefit plans,
banks and insurance companies located in the counties designated by the Federal
Emergency Management Agency as federal disaster areas because of the
hurricanes.
The extension also applies to plan administrators
located outside the designated disaster areas who are unable to obtain the
information necessary for filing from service providers, banks or insurance
companies whose operations are directly affected by the hurricanes. In
addition, the extension applies to banks, insurance companies and certain
investment entities which have been affected by the hurricanes and which file
reports directly with the Labor Department.
The following rules apply in the case of pension
and other employee benefit plan returns/reports required to be filed on or
after Sept. 15, 1999. The agencies will consider filers affected by the
disasters as having reasonable cause for late filing, and will therefore not
impose any late filing penalties if the relevant return/report is filed by Nov.
30, 1999.
Returns/reports filed after the date of this
release, should be marked “Hurricane Floyd” and/ or “Hurricane
Irene” across the top margin of the first page. The return/report of an
employee benefit plan not located within a designated disaster area must
include an attachment identifying the plan’s service provider affected by
either “Hurricane Floyd” or “Hurricane Irene,” as
appropriate, and the county in which the service provider is located. |
