Do the mandatory electronic filing requirements (EFAST2) apply to 403(b) plans?
Yes. Therefore, an officer of the plan sponsor will need to obtain filing signer credentials in order to electronically sign the Form 5500. If someone else will sign as plan administrator, that individual will also need filing signer credentials. What changes apply to the 403(b) plan Form 5500 filing requirements for 2009? Commencing with the 2009 plan year (generally filing in 2010), the limited reporting exemption which has applied to 403(b) plans no longer applies. Therefore, 403(b) plans now will need to (1) complete the entire Form 5500, (2) complete applicable schedules (including the financial schedule), and (3) comply with the plan audit requirement or the small plan audit exception. Will the change in the 403(b) Form 5500 filing requirements affect which 403(b) plans need to file? No. The new 403(b) Form 5500 filing requirements do not affect which plans need to file. The new requirements only affect what needs to be filed. In other words, 403(b) plans that are not subject to
