The 5500 and 5500EZ question 5 is for optional Preparer's Information. Should we fill it in?
It's our opinion that it is not to your advantage to complete this information for the following reasons:
- The DOL/IRS/PBGC could use it to cross reference your plans. This might make your other plans a target for audit should they find an administrative problem in one of the plans you file. The government has not stated they WILL do this, but they haven't stated they WON'T either.
- Since the forms are public record, your competitors could use it to obtain your client lists.
- Plan Participants could use the information to contact you.
We do recommend that you file a 2848 at least 30 days in advance of filing your annual return in order to receive copies of any correspondence letters that are issued.
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Article DKB00026