About The ERISA Filing Acceptance System II (EFAST2)

Under Titles I and IV of ERISA, and the Internal Revenue Code, pension and other employee benefit plans are required to file annual returns/reports concerning the financial condition and operations of the plan. These requirements are generally satisfied by filing the Form 5500 Series.

EFAST2, an all-electronic system, is currently being developed to receive and display Forms 5500 and 5500-SF Annual Returns/Reports. The Form 5500-SF (Short Form) can be used by small plans (generally fewer than 100 participants) that meet certain other conditions. EFAST2 is scheduled to be available beginning January 2010 on www.efast.dol.gov.

Under the Department of Labor’s Final Rule on Annual Reporting and Disclosure, all Plan Year 2009 and later Form 5500 Annual Returns/Reports must be filed electronically. 2009 Short Plan year filers whose due date is before January 1, 2010, are granted an automatic 90-day extension from the date the EFAST2 system is available for filing, but may file on paper using the 2008 forms and schedules if filed on or before December 31, 2009. Late and amended Annual Returns/Reports for plan years before 2008 must be submitted electronically once the EFAST2 system is available for filing. Plan Year 2008 filings (including late and amended filings) can be submitted electronically using EFAST2 beginning on January 1, 2010, electronically using EFAST until June 30, 2010, or on paper until October 15, 2010; 2008 filers with late or amended filings after January 1, 2010 are encouraged to file electronically using EFAST2.

Under the all-electronic EFAST2, filers choose between using EFAST2-approved vendor software or the EFAST2 web-based filing system (IFILE) to prepare and submit the Form 5500 or Form 5500-SF. Completed forms are submitted via the Internet.

EFAST2 electronic credentials must be obtained to sign and/or submit the Form 5500 or Form 5500-SF, or to prepare a return/report in IFILE. EFAST2 electronic credentials can be obtained beginning in January 2010 by registering on the EFAST2 web site (www.efast.dol.gov).

All filings that are received by the EFAST2 electronic filing system will be posted on the Department of Labor’s web site within 90 days of receipt to satisfy the Pension Protection Act requirement that the Department of Labor display certain information, including actuarial information (Schedule(s) MB or SB), contained in the plan's annual report. Actuarial information for 2008 filings will also be posted on the Department’s web site within 90 days of receipt, even if the filing is not received by EFAST2.

EFAST Help Line, 1.866.463.3278