Employee Plans Compliance Unit (EPCU) - Current Projects - Final Return with Assets
Why did I receive an EPCU Compliance Check Letter?
You filed a Form 5500 series return indicating the return was a Final Return, yet the return reflected assets at the end of the plan year. The Final Return box should not be marked if you are reporting there are plan assets at the end of the plan year. A Form 5500 series return is required to be filed until all assets are distributed and/or transferred to another plan.
What is the EPCU attempting to determine?
We want to clarify why the return was marked as a Final Return when there were still plan assets at the end of the plan year.
What actions do I need to take?
Complete the Attachment and return it to the person whose information is shown on the cover letter via e-mail, fax or postal mail. You may also furnish any other documents or clarifying material that you believe will be helpful for us to review. Please make every effort to provide a complete, accurate and timely response.
If You Have Questions
Please feel free to contact the person listed in the cover letter with questions about this project and how it relates to your situation.
A review of Form 5500 series returns showed that there are returns marked as Final Return that also reflect plan assets at the end of the plan year. A Form 5500 series return should not be marked Final Return unless there are zero assets at the end of the plan year.
The EPCU will be mailing the contact letter and Attachment to a random sample of plan sponsors. A closing letter will be issued to the plan sponsor upon completion of our review.
- Attachment to contact letter L-1562-D
- Form 5500-SF-2009 (Instructions)
- Form 5500-EZ-2009 (Instructions)
- Form 2848 (Instructions), Power of Attorney and Declaration of Representative