Late 5500s

We re-visit one of the biggest issues that our clients encounter: the late filing of the Form 5500.

Just last month (January 2011), a financial advisor forwarded the following email from his client. The sender is a CFO of a company whose 401(k) plan required an accountant's opinion be attached to its Form 5500: I was late getting to the 5500...My bad...I saw [my CPA] today and he was visibly shaken...Can you tell the TPA people to back off and chill the f*#% out? If they don't want me as a client, that can be arranged.

Please see article below for further information

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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