FAQ 136: 5558 --Creating 5558 forms in DGEM

FAQ 136: 5558 --Creating 5558 forms in DGEM - Single or Multiple

Problem:

How can we create pre-populated 5558 forms in DGEM? Do we need to set up 5500s before printing the 5558 extension form?

Solution:

The following information must be entered into the Form 5500, 5500SF, 5500EZ or 8955-SSA checklist before creating a new Form 5558 checklist:

a. Name of filer, plan administrator or plan sponsor
b. Full address
c. Plan name
d. Plan Number
e. EIN
f. Plan year begin and end dates
g. If the filing is the initial filing for the plan, either mark the checkbox for “the first return/report” in Part I, Line B of the Form 5500/5500SF; or mark the checkbox for “the first year return filed for the plan” in Part I, Line A of the Form 5500EZ. This is not applicable for the Form 8955-SSA.

For creating an individual 5558 form on a single plan, select the “Create Form 5558” option from the dropdown list on the Manage Plan Documents and 5500 Forms page. A 5558 checklist will be created, and the Form 5500 extension date will be checked automatically. If an extension is needed for the 8955-SSA, mark the Form 5558-SSA extension date box. Save the checklist. The 5558 PDF may be printed from within the checklist by selecting Save & View.

To create 5558 checklists in batch from the Find page, set the “Form Type” to 5500\5500SF\5500EZ Electronic. Using the “5558 Checklist” option, filter by “5558 Checklist exists” or “5558 Checklist does not exist”. A list of plans will appear on the Search results page, where you can select the desired filing(s) to create a 5558 checklist. You will be directed to the Form 5558 Extension Options page where you can choose to include the 8955-SSA extension on the 5558. Users will receive log results, the 5558 checklist will be created.

To print an individual form, use the "View PDF" option on the Manage Plan Documents page. To print in batch, use the Find page to select the 5558s that have "Paper" as the filing Method, and then use "View PDF (Batch)" option from the Find Results page.

Note: When you generate a PDF for a "Paper" Form 5588, the status is changes to Printed. However, you will need to make sure to print and mail the form to the IRS.