[13954]
September 17, 2001
TO: INVESTMENT ADVISER ASSOCIATE MEMBERS No. 13-01
INVESTMENT ADVISER MEMBERS No. 20-01
PENSION MEMBERS No. 27-01
PENSION OPERATIONS ADVISORY COMMITTEE No. 56-01
RE: DEPARTMENT OF LABOR EXTENDS FILING DEADLINES AND ISSUES OTHER
ERISA GUIDANCE
The U.S. Department of Labor’s Pension and Welfare Benefits Administration has issued
the attached news release announcing an extension of the deadline for filing Form 5500s, and
providing general guidance on ERISA compliance in light of recent events.
The Form 5500 filing deadline extensions apply to plan administrators, employers and
other entities that are located in the areas designated as federal disaster areas, as well as to other
filers who are unable to obtain the information necessary for filing from service providers,
banks or insurance companies whose operations are directly affected. Filers with deadlines
between September 11, 2001, and November 30, 2001, will be allowed an additional six months
plus 120 days to file. Those filers that are currently on an extension that expires between these
dates will be allowed an additional 120 days to file. Other filers who have difficulty in meeting
filing deadlines because of transportation and delivery disruptions will have until November
15, 2001, to make their filings.
The release also states that the PWBA recognizes that “plan fiduciaries may in good faith
find it necessary and prudent to take extraordinary steps in order to safeguard plan assets and
to facilitate the return to orderly markets.” The release notes, however, that plan fiduciaries
should document any temporary procedures and decisions, and ensure that they adequately
protect the interests of plans and their participants and beneficiaries.
Kathy D. Ireland
Associate Counsel
Attachment
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