We re-visit one of the biggest issues that our clients encounter: the late filing of the Form 5500.

Just last month (January 2011), a financial advisor forwarded the following email from his client. The sender is a CFO of a company whose 401(k) plan required an accountant's opinion be attached to its Form 5500: I was late getting to the 5500...My bad...I saw [my CPA] today and he was visibly shaken...Can you tell the TPA people to back off and chill the f*#% out? If they don't want me as a client, that can be arranged.

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