SYSTEM NAME:
The Employee Retirement Income Security Act of 1974 (ERISA) Filing and Acceptance System 2 - One Participant Plans Filing a Form 5500SF.
SECURITY CLASSIFICATION:
None
SYSTEM LOCATION:
Office of Technology and Information Services, U.S. Department of Labor, Employee Benefits Security Administration (EBSA), 200 Constitution Avenue, NW, Washington, DC 20210.
The EFAST2 servers are located at the sites of contractors, who operate the system on behalf of the Department of Labor. Contractors own the system hardware and communications and the Department of Labor owns the custom software and data.
CATEGORIES OF INDIVIDUALS COVERED BY THE SYSTEM:
Individuals who have filed a Form 5500SF and checked the one-participant plan box in Part I item A of the form.
CATEGORIES OF RECORDS IN THE SYSTEM:
Data includes all fields on the Form 5500SF and any included schedules or attachments.
AUTHORITY FOR THE MAINTENANCE OF THE SYSTEM:
29 U.S.C. 1021 et seq.
PURPOSE(S):
ERISA and provisions of the Internal Revenue Code require certain employee benefit plans to submit information annually to the Federal government (EBSA, Internal Revenue Service (IRS), and Pension Benefit Guaranty Corporation (PBGC)) through the Form 5500 series. One-participant plan filers are given the option to file Form 5500EZ on hard copy directly to the IRS or they may file electronically through EFAST2 using the Form 5500SF.
Note: This system of records is maintained by the Department of Labor for the benefit of the Internal Revenue Service (IRS).
ROUTINE USES OF RECORDS MAINTAINED IN THE SYSTEM, INCLUDING CATEGORIES OF USERS AND THE PURPOSE OF SUCH USES:
In addition to those universal routine uses listed in the General Prefatory Statement to this document, EFAST2 data is used for internal reporting by EBSA and furnished to three other Government Agencies: the Internal Revenue Service (IRS), the Social Security Administration (SSA), and PBGC.
Consistent with DOL's information sharing mission, information stored in EFAST2 may be shared with other DOL components, as well as appropriate Federal, State, local, tribal, foreign, or international government agencies. This sharing will only take place after it is determined that the receiving component or agency has a need to know the information to carry out functions consistent with the routine uses set forth in this system of records notice. The IRS uses one-participant Form 5500-SF data to administer requirements of I.R.C. 6058(a) and 6059(a).
DISCLOSURE TO CONSUMER REPORTING AGENCIES:
None.
POLICIES AND PRACTICES FOR STORING, RETRIEVING, ACCESSING, RETAINING, AND DISPOSING OF RECORDS IN THE SYSTEM:
STORAGE:
Files are stored electronically and/or on paper.
RETRIEVABILITY:
Files are retrieved by individual's name.
SAFEGUARDS:
Access by authorized personnel only. Computer security safeguards are used for electronically stored data and locked locations for paper files.
RETENTION AND DISPOSAL:
The EFAST2 Record Schedule (N1-317-11-1) was approved by National Archives and Records Administration on May 10, 2011. All records will be maintained in accordance with the approved schedule.
SYSTEM MANAGER(S) AND ADDRESS:
EFAST2 Program Manager, Office of Technology and Information Services, Employee Benefits Security Administration, 200 Constitution Avenue, NW, Washington, DC 20210.
NOTIFICATION PROCEDURE:
Inquiries should be mailed to the System Manager.
RECORD ACCESS PROCEDURES:
A request for access should be mailed to the System Manager.
CONTESTING RECORD PROCEDURES:
A petition for amendment should be mailed to the System Manager.
RECORD SOURCE CATEGORIES:
Information contained in this system is obtained from one participant filers who file a Form 5500SF electronically.
SYSTEMS EXEMPTED FROM CERTAIN PROVISIONS OF THE ACT:
None.