Prior to January 1, 2010, an employer could file its IRS Form 5500 by physically mailing the return. The DOL has created a new electronic process, called EFAST2, in an effort to streamline the process thereby potentially saving millions of taxpayer dollars! The process involves submitting data and forms via its website.
The learning curve for this new process has been significant. APC has simplified this process by using the DOL modification to the submission rules. All that is required is a signature on the prepared IRS Form 5500, as well as an Authorization Form, and we will do the rest!
Please contact your APC consultant if you have a question, or you can go to the DOL website at http://www.efast.dol.gov/welcome.html if you want to go straight to the source.