Plans that cover residents of Puerto Rico, the U.S. Welfare benefit plans provide benefits such as medical, dental, life insurance, apprenticeship and training, scholarship funds, severance pay, disability, etc.
Profit sharing plans, stock bonus plans, money purchase plans, 401(k) plans, Code section 403(b) plans covered by Title I of ERISA, and IRA plans established by an employer are among the pension benefit plans for which an annual return/report must be filed. Pension benefit plans required to file include both defined benefit plans and defined contribution plans.
An annual return/report must be filed even if the plan is not "tax qualified," benefits no longer accrue, contributions were not made during this plan year, or contributions are no longer made. (See Code sections 60 and ERISA sections 1). Pension and Welfare Plans Required To File Annual Return/ReportĪll pension benefit plans and welfare benefit plans covered by ERISA must file a Form 5500 or Form 5500-SF for a plan year unless they are eligible for a filing exemption. To see 2009 Forms 5500, including actuarial information, see See for 2008 and short plan year 2009 actuarial information filed under the previous paper-based system. Section 504 also requires DOL to display such information on DOL's website within 90 days after the filing of the plan's annual return/report. Pursuant to Section 504 of the Pension Protection Act of 2006 (PPA), this availability for defined benefit pension plans must include the posting of identification and basic plan information and actuarial information on any plan sponsor intranet website (or website maintained by the plan administrator on behalf of the plan sponsor) that is used for the purpose of communicating with employees and not the public. See Penalties on page 5.Īnnual returns/reports filed under Title I of ERISA must be made available by plan administrators to plan participants and beneficiaries and by the DOL to the public pursuant to ERISA sections 104 and 106. Once received, your form may be subject to further detailed review, and your filing may be rejected based upon this further review.ĮRISA and the Code provide for the assessment or imposition of penalties for not submitting the required information when due. Your entries must satisfy this screening for your filing to be received.
See How To File – Electronic Filing Requirement instructions on page 5 and the EFAST2 website at Your Form 5500-SF entries will be initially screened electronically. The Form 5500-SF must be filed electronically. See Specific Instructions Only for "One-Participant Plans" on page 6. See the PBGC's website atįor information on premium filings and reporting and disclosure requirements.Ībbreviated filing requirements apply for one-participant plan filers who are eligible to file Form 5500-SF.
Defined benefit pension plans covered by the PBGC have special additional requirements, including filing premiums and reporting certain transactions directly with that agency.
Defined contribution and defined benefit pension plans may have to file additional information with the IRS including: the annual registration statement required to be filed under Code section 6057 Form 5330, Return of Excise Taxes Related to Employee Benefit Plans and Form 5310-A, Notice of Plan Merger or Consolidation, Spinoff, or Transfer of Plan Assets or Liabilities Notice of Qualified Separate Lines of Business. Administrators and sponsors of employee benefit plans generally will satisfy their IRS and DOL annual reporting requirements for the plan under ERISA sections 1 and Code sections 60 by filing either the Form 5500, Form 5500-SF, or Form 5500-EZ. To reduce the possibility of correspondence and penalties, we remind filers that the Internal Revenue Service (IRS), Department of Labor (DOL), and Pension Benefit Guaranty Corporation (PBGC) have consolidated their annual return/report forms to minimize the filing burden for employee benefit plans. Plans required to file an annual return/report that are not eligible to file the Form 5500-SF, must file a Form 5500, Annual Return/Report of Employee Benefit Plan, with all required schedules and attachments (Form 5500), or Form 5500-EZ, Annual Return of One-Participant (Owners and Their Spouses) Retirement Plan. Have 100% of its assets invested in certain secure investments with a readily determinable fair value, Meet the conditions for being exempt from the requirement that the plan's books and records be audited by an independent qualified public accountant (IQPA), Be a small plan (i.e., generally have fewer than 100 participants at the beginning of the plan year),