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Benefits Brief: What is Form 5500?

The attached Benefits Bulletin provides a high-level overview of the Employee Retirement Income Security Act of 1974 (ERISA) Form 5500 filing process.  The bulletin outlines what the Form 5500 is and what the Department of Labor (DOL) uses the filing for; from assessing employee benefit trends to identifying possible ERISA violations.

Additionally, the attached document provides a list of the health and welfare plans that must file a Form 5500, the qualifications that determine a “large” health and welfare plan, the deadline to file Form 5500; e.g., calendar year plans, January through December, the deadline is July 31, and the fees/penalties that may apply for non-compliance.

Lastly, the document provides a brief overview of what the Summary Annual Report (SAR) is, who must provide one, and when it is due to be issued to all covered participants and certain beneficiaries of the plan. 

Cowden can help answer questions regarding the 5500 filing process as well as assist your organization in completing the annual filing. Contact your Cowden representative for more information on this or other compliance issues.

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