More than 200,000 people have registered for Employee Retirement Income Security Act Filing Acceptance System (EFAST2) accounts, an official said June 3 in a webcast by the Department of Labor’s Employee Benefits Security Administration on using the new system to prepare Form 5500.
In addition, said Marianne Gibbs, senior program analyst and EBSA’s technical lead for the EFAST2 program, the department already has received more than 50,000 Form 5500 filings. Normally, it would have more than 100,000 filings by now, which tells the agency that people are taking time to adjust to the new system, Gibbs said.
In addition, the ...
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