The Labor Department’s Employee Benefits Security Administration announced May 13 that it will immediately begin to accept electronic signatures on Form 5500 and Form 5500-SF annual reports to simplify a now-mandatory electronic filing process using the department’s EFAST2 system.
The department also announced it had updated its frequently asked questions document to explain the new e-signature option.
Under the new e-signature option, service providers or third-party administrators that manage the filing process for benefit plans may use their own signing credentials to submit electronic Form 5500s and Form 5500-SFs on behalf of employers that sponsor benefit plans. Service providers and ...
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