EFAST2 Credential Instructions Form 5500 Electronic Filing Requirements Presented by David Ostapeck and Gerri Wheeler
What is EFAST2?
EFAST2 is an electronic web based system that was created by the Department of Labor (DOL) to simplify the receipt of the Form 5500.
All filings received by the DOL will be posted on their website within 90 days of their receipt subject to public disclosure.
Overview of New Requirements
The Form 5500 must be filed electronically but the Form 5500-EZ may still file using a paper method.
Electronic credentials must be obtained by the Plan Sponsor to sign and submit the form electronically
The Schedule SSA will still be sent by paper due to the listing of participant social security numbers on this form. This form is not subject to public disclosure.
First Step – setting up electronic certification. This certification registers you as an authorized signer of the form.
Registration is simple and only takes about 10 minutes.
Print the EFAST2 Signature Certification Worksheet that was provided in our e-mail to you.
Type www.efast.dol.gov/portal in your web browser bar and hit return.
Sign as the Filing Signer only
You should only click on Filing Signer. Filing Author should not be clicked.
Within a few minutes after completing this screen you will receive an e-mail from the DOL. A sample of which is on the next slide.
The e-mail may be formatted differently than this example. If you have not received the e-mail within 5 minutes of completing the prior screen, please check your spam or junk folder. If the e-mail is not in your spam or junk folder, please contact your IT regarding your spam filter software. If you need assistance from the DOL, please call 1-866-463-3278.
This is your user ID and PIN number. Please retain a copy for reference for this and all future filings of the form.
You have now successfully completed your signature registration.
What is Next?
After your administrator completes the 2009 forms and schedules, they will contact you and let you know that your form is ready to submit.
You will receive an e-mail that will ask you to login to website www.ftwilliam.com . This website is a link to our software provider and is secure.
Liquid Signing of the Forms
You will login with a username and password that we will provide to you.
After logging in, you will have the option to view/print 5500 (pdf). There is a link on the screen that would allow you to view your forms and schedules which you must do before signing the Form 5500.
After your review, you will click on the link option to Print and Sign 5500.
You must print the forms and sign them and retain a copy in your tax records.
Electronic Signing of the Forms
You will be asked to enter your name, the Administrator User ID, and Administrator PIN. This User ID & PIN is the one issued by the DOL. This will activate your signing of the forms.
A status report will inform you if your forms have been accepted or rejected and you will receive an acknowledgment number.