Extending Project Deadlines

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A Project's External Deadline is the date that the Project must be fully completed by. This can be a date preferred by the firm, or it can represent a hard deadline imposed by a regulatory organization such as the IRS. Generally, deadlines are not intended to be flexible; however, changes may be necessary in certain cases. This article details the processes for altering or extending a Project Deadline.

 

For more information on setting an External Deadline, refer to the article Project Templates.

 

Tier Availability: Business

 

Article Contents

 

 

 

Adjusting Deadlines

 

A Project Deadline can be altered by opening and editing the desired Project. Alternately, the Deadline can be altered for multiple Projects at once using Power Tools.

 

 

Updating a Single Project

 

Security Rights Required: Add/Edit Project, Alter Due Dates

 

  1. Open the Project in a new Project tab.
  2. Select the Summary view from the Views list on the left.
  3. Select Editedit.png at the top-right of the Project Summary grid. The Edit Project Details window displays.
  4. In the External Deadline field, enter the new Project deadline.
    • Select Calendarcalendar.png to choose a date from a calendar popup, or enter a date manually.
    • The External Deadline cannot be earlier than the Project Start date.
  5. Select Save.

 

 

Updating Multiple Projects

 

Security Rights Required: Access Power Tools

 

  1. Select Power Tools > Field Update > Projects. The Projects Power Tool opens at Step 1.
  2. From the Select a field to update dropdown, select Due Date.
  3. In the Select/Enter a date to be used for the field update field, enter the new Project Deadline.
    • Select Calendarcalendar.png to choose a date from a calendar popup, or enter a date manually.
    • This Deadline will be applied to all Projects selected in the following steps.
  4. Select Next. Continue through the remaining steps to complete the Power Tool.
    • For assistance in applying filters and selecting records in Steps 2 and 3 of the Power Tool, refer to the article Column Selections & Filters.

 

 

5558 Extensions

 

PensionPro provides additional functionality when a Form 5558 is necessary to extend the filing deadline of a 5500 or similar form that is being completed as part of Annual Administration. In this case, an Extension Project can be launched from an Annual Administration Project, tying the two together but allowing the requirements of the 5558 Extension to be performed in parallel to Annual Administration.

 

The following actions take place upon extending an Annual Administration Project:

 

  • The Project's External Deadline is updated to 2½ months beyond the previous deadline.
  • An Extension Project is launched.
  • The Extension Project is added to the Assoc. Projects view of the Annual Administration Project tab.

 

 

Prerequisites

 

Security Rights Required: Maintenance

 

The following conditions must be met to extend an in-progress Annual Administration Project:

 

  • The Project Type of the Project must be Annual Administration.
  • The Extendible setting in the Project Template must have been set to True when the Project was launched.
    • This setting cannot be changed after the Project is launched.
  • At least one Project Template with the Project Type Extension must exist, and must have the Extends an Existing Project option set to Yes.
    • Refer to the Attachments section in the sidebar of this article for a sample 5558 Extension Project Template.

 

Project Template settings can be managed within Maintenance > Templates. For more information on these settings, refer to the article Project Templates.

 

 

Launching an Extension

 

  1. Open the Annual Administration Project in a new Project tab.
  2. Select the Summary view from the Views list on the left.
  3. Within the Project Summary grid, select Create Extension. The Choose an extension template window displays.
  4. Select the desired Project Template from the Template Name dropdown.
    • This dropdown only contains Projects with the Extension Project Type.
  5. Select Create.

 

 

Extending Multiple Projects

 

Security Rights Required: Access Power Tools

 

Multiple Annual Administration Projects can be extended using Power Tools:

 

  1. Select Power Tools > Projects > Project Extension Creation. The Project Extension Creation Power Tool opens at Step 1.
  2. From the Select a value to be used for the Project Template dropdown, select the desired Project Template from the list of Extension Projects.
    • This Extension will be launched for all Projects selected in the following steps.
  3. Select Next. Continue through the remaining steps to complete the Power Tool.
    • Step 3 of the Power Tool will only return applicable Annual Administration Projects.
    • For assistance in applying filters and selecting records in Steps 2 and 3 of the Power Tool, refer to the article Column Selections & Filters.

 

 

Frequently Asked Questions

 

  • I accidentally launched an Extension Project. Can I delete it?
    Yes. An Extension can be deleted similarly to any other Project; refer to the article Launching & Managing Projects for instructions. Following deletion, it may be necessary to edit the External Deadline of the Annual Administration Project back to its previous value, as per Updating a Single Project.