November 09, 1999
IRS, Labor Dept. Extend Filing Time for Annual
Pension Plan Reports Due to Hurricanes Floyd and Irene
WASHINGTON - The Internal Revenue Service and the
U.S. Department of Labors Pension and Welfare Benefits Administration have granted
extensions to pension and other employee benefit plans (Form 5500 filers) in the federal
disaster areas due to Hurricane Floyd and Hurricane Irene. Plan administrators will have
until November 30, 1999, to file required returns/reports.
The extension applies to employee benefit plans, banks and insurance companies
located in the counties designated as federal disaster areas. It also applies to plan
administrators located outside the disaster areas who are unable to obtain the information
necessary for filing from service providers, banks or insurance companies whose operations
are located in the disaster areas.
The agencies will not impose late filing penalties for pension and employee
benefit plan returns/reports and related excise taxes due on or after September 15, 1999,
if they meet the November 30th deadline.
To qualify for the extension, returns/reports must be labeled "Hurricane
Floyd" or "Hurricane Irene," as appropriate, across the top margin of the
first page. The return/report of an employee benefit plan not located within a designated
disaster area must have an attachment identifying the plans service provider
affected by the disaster and the county in which the service provider is located.
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