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Archived News Release--Caution:
information may be out of date.
For more information call: 202-219-8921
The U.S. Department of Labor's Pension and Welfare Benefits
Administration and the Internal Revenue Service today announced an extension
for filing annual returns/reports due to the severe weather and flooding in
Minnesota, North Dakota and South Dakota.
The extension applies to counties in the three states that
have been designated by the Federal Emergency Management Agency as federal
disaster areas. Those who qualify for an extension include employee benefit
plans in those counties as well as banks, insurance companies and certain
investment entities in the disaster areas that file reports directly with the
Labor Department.
The extension also applies in cases where administrators
of plans located outside the disaster areas are unable to obtain the
information necessary for filing from service providers, banks or insurance
companies whose operations are located in the disaster areas.
The following rules apply in the case of pension and other
employee benefit plan annual returns/reports (Forms 5500 Series)
required to be filed on or after April 15, 1997.
The agencies will consider filers affected by the disaster
as having reasonable cause for late filing, and will therefore not impose any
late filing penalties if the relevant returns/reports are filed by June 30,
1997.
To qualify for the extension, returns/reports must be
marked in red, bold print "97 Floods" on the top center 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 the severe weather or floods and the county in which the
service provider is located.
Archived News Release--Caution:
information may be out of date.
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