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What is Form 5500? What is the Annual Return/Report of Employee Benefit Plan?

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Question: What is Form 5500? What is the Annual Return/Report of Employee Benefit Plan?

ERISA is the Employee Retirement Income Security Act of 1974, enacted by Congress to set minimum standards for pension plans, to provide rules for taxation of benefit plans, and to protect employee benefit plan participants by giving them information on their plans. ERISA contains a requirement that all employee benefit plans must provide an annual benefit statement to plan participants and to file this statement with the Employee Benefit Security Administration (EBSA).

Answer:

What is Form 5500? What Information in Provided on this Form?
Form 5500 is the Annual Return/Report for Employee Benefit Plans. The form provides information about the plan itself, type of plan, and type of funding, about participants (those currently in the plan, those who have left but are entitled to receive benefits, and participants with account balances at the end of the year). The report also must include information on benefits provided under the plan during the year.

When Must this Form be Filed?
Form 5500, along with all accompanying schedules, statements, and attachments, must be filed by the last day of the 7th calendar month after the end of the plan year.

For More Information
The IRS has more information about Form 5500 at its Form 5500 Corner.

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