5500 Filing Deadline Reminder!

Cafeteria/Retirement Plan 5500 Filing Deadline: July 31 (for plans with 12-31 year ends)

ERISA, the federal law that governs retirement and welfare plans (e.g. health, life and disability plans), requires plan sponsors to file an annual report with respect to the plan. The Form 5500 is the primary source of information for the government in (1) enforcing the rules applicable to the employee benefit plans; (2) targeting plans for audit; and (3) developing public policy regarding the plans.

All employers with retirement plans are required to file a Form 5500 with the Department of Labor/Employee Benefits Security Administration each year. Also, if an employer sponsors any type of welfare benefit plan and they have 100 or more participants on the first day of the plan year (i.e. health insurance, flex spending account, health savings account, life insurance, disability insurance, etc.), they are also required to file a Form 5500. The deadline for filing Form 5500 is July 31st.

If you believe your company may fall into either of these categories and have not yet filed a Form 5500, please contact us immediately.

Please feel free to contact your third party administrator with any questions.