The Internal Revenue Service has postponed the deadline for Form 5500 (and 5500EZ) filings that would otherwise have been due on or between October 21 and December 29, 2003, for employers and plan administrators directly affected by the California wildfires that started on October 21, 2003. If the initial filing deadline for the plan is covered by that period, it is postponed until December 29, 2003. Similarly, the Pension Benefit Guaranty Corporation (PBGC) has extended deadlines and waived penalties for certain PBGC filings. To see the IRS press release, click here.

The disaster areas included in this relief are the California counties of Los Angeles, Riverside, San Bernardino, San Diego and Ventura. Relief is provided for employers and plan administrators located in the disaster area or those located elsewhere who need to obtain information or assistance from a service provider whose operations are directly affected by the wildfires.

The PBGC will treat any premium filing required between October 21 and December 29, 2003 as timely for purposes of any late payment penalty provided it is made by December 29. However, the PBGC will not waive any applicable interest charge for the late filing. The PBGC also extended the filing deadlines for certain notices related to plan terminations (Forms 500, 501 and 601), participant notices and reportable events notices. Additional relief may be granted on a case-by-case basis by contacting Diane Morstein at the PBGC by phone at (800) 736-2444, ext. 4136, by e-mail to practitioner.pro@pbgc.gov or by regular mail to her at PBGC, Suite 610, 1200 K Street, NW, Washington, DC 20005, Re: CA Wildfires - Disaster Relief Technical Update 03-25.

For PBGC filings, print or type the words "CA Wildfires" at the top of the filing. For Form 1 or Form 1-EZ also check the "disaster relief" box at the top of the form.

For Form 5500 filings, Plan Administrators should check Part 1, Box D on the From 5500 (or Part 1, Box B on the Form 5500-EZ) and attach a statement labeled "CA Wildfires" explaining the basis for the extension. Questions should be addressed to the EFAST Help Line at 1-866-463-3278.

At the time this Compliance Alert was published, there was no delay in the deadlines for other ERISA filings or for contributions required by the ERISA minimum funding rules.

Compliance Alert, The Segal Company’s periodic electronic newsletter summarizing important developments affecting benefit plan compliance, is for informational purposes only. It is not intended to provide authoritative guidance. On all issues involving the interpretation or application of laws and regulations, plan sponsors should rely on their attorneys for legal advice.

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