No paper filings of any kind (e.g., mail, fax) will be accepted except for timely filed 2008 plan year filings. This is the first year that all filings must be done through the EFAST system. The new EFAST2 offers several advantages to paper filings including greater security, fewer errors and rejected filings, and quicker availability of information to government agencies and the public.

The EFAST2 system is accessible through the Department of Labor’s website or third party software. In order to become an EFAST2 filer you must register, complete profile and contact information, create user preferences, and validate your registration. Once you are a registered EFAST2 user, you will be able to file your Form 5500 electronically. Resources are available on the Department of Labor’s website regarding the registration and filings using EFAST2.

It will take time to set up and learn the new system, but it is important to remember your document retention responsibilities and deadlines. Last minute filers should pay special attention to the deadlines and allow additional time for registration (turnaround time usually takes 24 hours) and allow additional time to learn the new system. If you have any questions or need assistance with the new EFAST2 system, please do not hesitate to contact us at (972) 644-7112.