Rollovers as Business Startups (ROBS) are a financing mechanism that can meet IRS standards if certain conditions are met. One problem: Some ROBS have been incorrectly interpreting an exemption to the Form 5500 series filing requirement if plan assets are less than a specified dollar amount ($250,000) and the plan provides deferred compensation solely for an individual or an individual and his or her spouse who wholly own a trade or business. However, in ROBS, the plan rather than the individual owns the trade or business so the exemption doesn't apply. Filing deadline for the 2012 plan year: July 31, 2013.

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