Having over 18 years of experience in the field of human resources, I have had my share of brokers who over promise and under deliver. I have had no such experience with Triton. We transitioned a very complex set of companies from a large nationally known brokerage house to Triton. We immediately received more personal, thorough and detailed service from Triton than we received in our two years with our past firm.

The Triton staff has been fantastic, personable and knowledgeable. The issues and concerns we have in our business are varied and multi layered and yet Triton has found answers or provided insights on every situation with which we contacted them. I truly consider Triton to be an extension of our Human Resources Department and for that I am grateful. I can think of no other vendor partner relationship that I trust more than Triton. Our company continues to grow and change; I need the flexibility and ability to change on a dime. Triton and its people have the sense of urgency and follow through that was lacking in my previous experience.

Peri A. Bluemer, Director of HR

02/26/2010 – New 2010 Mandatory Online 5500 Filing Requirements

EFAST2 All-Electronic Filing System

Top Ten Questions:

Q1: I heard that I will have to start filing the annual return/report (Form 5500 or Form 5500-SF) electronically. Can you tell me if that’s true and when I would need to start?
A1: All pension and welfare plans and DFEs that are required to submit an annual return/report under Title I of ERISA (Form 5500 or Form 5500-SF) must do so electronically for plan years beginning on or after January 1, 2009. Beginning January 2010 an all-electronic system called EFAST2 will receive those electronic annual returns/reports. Once the EFAST2 electronic system is on-line and ready to receive filings, you must file the Form 5500 or Form 5500-SF electronically through EFAST2 for plan/reporting year 2009 and for subsequent plan/reporting years. Prior year delinquent or amended Form 5500 annual return/reports generally must be filed electronically through EFAST2. See question 4. The Form 5500-EZ cannot be submitted electronically. A “one-participant” plan (see the instructions for the Form 5500-SF) that is eligible to file Form 5500-EZ and is not required to file under Title I of ERISA may elect to file Form 5500-SF electronically with EFAST2 rather than filing a Form 5500-EZ on paper with the IRS. Such a “one-participant plan” that is not eligible to file Form 5500-SF must file Form 5500-EZ on paper with the IRS. For more information on filing the Form 5500-EZ, see the instructions for Form 5500-EZ, go to www.irs.gov, or call 1.877.829.5500.

Q2: How can I file my timely plan year 2008 annual return/report if it is due after January 1, 2010?
A2: You have several options: 1. You can electronically file a plan year 2008 annual return/report using EFAST2-approved third party software or IFILE beginning January 2010. EFAST2 is the new filing system. 2. You can electronically file a plan year 2008 annual return/report using EFAST-approved third party software until June 30, 2010. EFAST is the current filing system. 3. You can file a plan year 2008 annual return/report on paper through the current EFAST filing system, using EFAST-approved software or government-issued hand print forms, until October 15, 2010.

Q3: Short plan year 2009 annual returns/reports (Form 5500 or Form 5500-SF) may be due before EFAST2 can receive them in January 2010. How do I file these?
A3: Short 2009 plan year filers whose due date to submit their 2009 filing is before January 1, 2010 will be given an automatic extension to electronically file their complete Form 5500 annual return/report within 90 days after the 2009 filing system is available on the DOL web site. This special extension is being granted to encourage such filers to submit their 2009 returns/reports electronically under EFAST2. Filers who choose not to take advantage of the special extension must use plan year 2008 forms and instructions and submit their annual return/report on or before the due date for their filing under the current EFAST system (before EFAST2 and the 2009 Forms and instructions are available for filing in January 2010).

Q4: How can I submit a delinquent or amended Form 5500 return/report for a Title I plan for years prior to 2009 once the EFAST2 system is available?
A4: Beginning January 1, 2010, delinquent and amended filings of Title I plans must be submitted electronically through EFAST2 and cannot be submitted on paper through the current EFAST system. A limited exception is available, however, for delinquent and amended 2008 plan year filings. Specifically, while you may submit a delinquent or amended 2008 plan year filing electronically through EFAST2 beginning January 1, 2010, you also have the option to submit it through EFAST either on paper until October 15, 2010 or electronically until June 30, 2010. After October 15, 2010, even 2008 plan year filings of Title I plans must be submitted electronically through EFAST2.

To submit a delinquent or amended Form 5500 return/report electronically through EFAST2 for plan years prior to 2009, you must submit the filing using current filing year Form 5500, schedules, and instructions except as provided below. The current filing year forms take the place of the Form 5500 pages that would have been included in the prior year's filings. The electronic filing on the current filing year Form 5500, however, must indicate, in the appropriate space at the beginning of the Form 5500, the plan year for which the annual return/report is being filed.

Exceptions to requirement to use current filing year schedules and instructions: Filers using EFAST2 must use the following correct-year schedules (that is, the plan year for which the annual return/report relates) completed in accordance with the related correct-year instructions:

    * Schedule B, SB, or MB (Actuarial Information),
    * Schedule E (ESOP Annual Information),
    * Schedule P (Annual Return of Fiduciary of Employee Benefit Trust),
    * Schedule R (Retirement Plan Information) and
    * Schedule T (Qualified Pension Plan Coverage Information).

For example, if you are filing a delinquent 2007 Form 5500 return/report for a defined benefit pension plan, you must include the 2007 Schedule B, Schedule R and all required attachments for these schedules. Attach them as pdf images to the current filing year Form 5500 (2009 or 2010 forms can be used as current filing year forms as of 1/1/2010), tagging them as "other attachments." Also, you have the option of using either the current filing year or the correct-year (2007 in this example) Schedule C. Since the Schedule E would not apply to a defined benefit plan, and the Schedule P and Schedule T did not apply for 2007 plan year filings, all other required schedules and attachments should be completed using current filing year forms and instructions. The entire filing should then be filed electronically in accordance with EFAST2 electronic filing requirements.

To obtain correct-year schedules and related instructions, go to this listing and print the schedules and instructions of the form year that corresponds to the plan year for which you are filing.

IMPORTANT: Do not attach any Schedule SSA to any filing with EFAST2. Rather, submit the most current year Form 8955-SSA to the IRS (along with all required attachments). See www.irs.gov/ep for additional information.

IMPORTANT: Do not send any penalty payments associated with a delinquent filing to EFAST2. Penalty payments to the IRS or made under the Department's Delinquent Filer Voluntary Compliance (DFVC) Program must be submitted separately in accordance with the applicable requirement.

Filing Preparation Software

Q5: What is IFILE?
A5: IFILE is the Form 5500 and Form 5500-SF annual return/report preparation and submission application that will be on DOL’s web site www.efast.dol.gov.

Q6: Do I have to use IFILE?
A6: No. IFILE is offered as an alternative to EFAST2-approved third party software.

Q7: How do I know what third party software is approved?
A7: A list of EFAST2-approved third party software will be posted on www.efast.dol.gov. There will be two types of software certification in EFAST2: certification for software to prepare filings and certification for software to submit filings. Make sure the software you are using is approved for the function(s) you will need to have performed by the software (i.e., filing preparation and/or submission).

Q8: What are the benefits of using EFAST2-approved third party software instead of IFILE?
A8: Historically, 90 percent of filers have used approved third-party software. Continuing to use approved third-party software will provide you with continuity in the switch to the new system, which should help minimize the possibility of technical issues.

IFILE can not be used to transmit batches of filings; it can only be used to transmit single filings. Many third party preparers benefit from transmitting batches of filings. Some EFAST2-approved third party software may support transmission of batches of filings.

IFILE does not help you prepare an annual return/report. Some EFAST2-approved third party software may integrate with your systems to automatically populate some of the information required.

IFILE does not contain filing assistance or integrated instructions. Some EFAST2-approved third party software may provide such value-added support.

IFILE does not allow more than one individual to edit a filing without exporting, downloading, importing, etc. (see question 20 and 30); whereas, some EFAST2-approved third party software may provide such file sharing functionality. With file sharing as part of the software, different people can work on a single filing in a coordinated and streamlined manner.

Q9: I currently use EFAST-approved software to prepare my Form 5500 and then print and mail the annual return/report to EFAST. What will I need to do differently for my plan year 2009 annual return/report?
A9: You may be able to use the same type of third-party software that you have been using to prepare your Form 5500, but you need to ensure that the version you use is approved for the 2009 plan year by EFAST2. A list of EFAST2-approved third party software will be posted on www.efast.dol.gov.

Instead of printing and mailing the annual return/report to EFAST, the plan administrator must electronically sign it and then the electronically signed annual return/report must be submitted over the Internet to EFAST2. Your EFAST2-approved third party software will transmit the filing to the EFAST2 system and subsequently provide you with your filing status.

Registering For EFAST2 Credentials

Q10: When can I register for EFAST2 electronic credentials to sign a Form 5500 or Form 5500-SF?
A10: Once EFAST2 is operational in January 2010 you can begin registering for electronic credentials through the EFAST2 web site www.efast.dol.gov.

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