EFAST2 ~ ACTION REQUIRED

Form 5500 Changes
ERISA Filing Acceptance System II (EFAST2)

Plan Sponsor,
Under Titles I and IV of ERISA, and the Internal Revenue Code, pension and other employee benefit plans are required to file annual returns/reports concerning the financial condition and operations of the plan. These requirements are satisfied by filing the Form 5500 Series. All Plan Year 2009 and later Form 5500 Annual Returns/Reports must be filed electronically. The all-electronic system is called EFAST2.

EFAST2 electronic credentials must be obtained by Plan Sponsors to sign the Form 5500. The electronic filing process does not change the services of Pension Inc. in preparing and transmitting your Form 5500. The electronic filing process simply requires your "electronic" signature versus a "wet" signature. 5500 Signers must obtain a User ID and a PIN from the DOL EFAST 2 Website (also known as IREG).

  • Plan Sponsor Signers must have access to Internet and email
  • Plan Sponsor Signers will receive a password via email
  • Pension Inc. cannot register or collect your signer credentials
  • No hardship process will be established for EFAST 2 signers without access to the internet
Below are instructions on how to obtain filing credentials with the DOL. Once this process is complete, you can continue to use the User ID and PIN provided by the DOL in future years. If a different person signs the 5500 filing in a future year, that person will have to register with the DOL signing credentials at that time. In addition, more than one person may obtain credentials to sign a 5500 form if more than one person may actually sign the filing.

Pension Inc.
5500 Form Signer Credential Procedures

There are several steps to registering at the DOL website. We suggest that you set aside approximately 15 minutes to complete the process. However, please keep in mind that it may take more than 15 minutes as there are several steps in the process. Please also note that the DOL may change the registration process - these are the steps as we understand them at the time of this letter.

1. Go to EFAST DOL and select the link to register.

2. You will be asked to read and sign a privacy statement.

3. Complete your profile.
  • You will be taken to a screen where you will be required to complete information that will serve as your profile (name, address, email and user type).
  • Your user type is "filing signer".
4. Challenge question.
  • Once your profile information is complete, you will be asked to select a challenge question and answer.
  • This is required and will be used to obtain your User ID and PIN in step 6.
5. Confirm email.
  • Check your email and click on the link provided in the email.
6. Answer your Challenge Question.
  • You will be asked the challenge question you set up earlier in the process.
7. PIN agreement.
  • You will then be asked to sign a PIN Agreement whereby you will agree not to share the PIN that is assigned to you.
8. Signature Agreement.
  • You will then be asked to agree to a more detailed "signature agreement".
9. User ID and PIN.
  • You will then be provided a User ID and Password.
  • We strongly suggest printing this page for your records.
    • 10. Password.
    • The last step in the process is to create a password that will be assigned to the User ID and PIN that you were just provided.
    • We suggest making a note of the password that you enter for your records.
    • The password can be used with your User ID to obtain your PIN and/or log in to the DOL website in the future to change any profile information if necessary.