1. How should we amend Form 5500 series reports for plan years that begin prior to 1999?

Amended Form 5500 series reports using the 1998 or earlier year forms. These reports may no longer be filed with the IRS Service Centers. After June 30, 2001, all late or amended Form 5500 reports must be filed with the EFAST processing center in Lawrence, Kansas.

Such amended reports must include all pages and attachments related to the filing. Highlight or circle the lines that have been changed from the originally filed report.

2. Should we amend a 1999 Form 5500 filing?

My current advice on the 1999 and 2000 forms is to consider waiting until you can confirm that the original filing has been processed by EFAST. You may be contacted by EFAST for additional information and can perfect your filing at the same time.

If you decide to amend a 1999 or 2000 filing, be sure to modify line 10 of Form 5500 to indicate only those schedules which, in fact, are part of the amended filing. For example, if you originally attached Schedules A, C, D, and H but are amending only Schedule D, then be sure to remove the marks indicating Schedules A, C, and H are attached. Otherwise, PWBA will expect those attachments on the amended filing.