Form 5500 Updates |
|||
August 31, 2006 |
|||
| DOL Changes to the Form 5500 | |||
| • | Mandatory electronic filing will be required starting with the 2008 plan year | ||
| • | The DOL will be revising Form 5500 to streamline it for electronic filing | ||
| ° | Proposals for changes to the Form are being accepted by the DOL at this time | ||
| ° | Written comments must be received by the Department of Labor on or before September 19, 2006 |
||
| • | Schedule P: | ||
| ° | Eliminated from Form 5500-EZ as of the 2005 plan year | ||
| ° | Eliminated from Form 5500 as of the 2006 plan year |
||
Pension Protection Act of 2006 Form 5500 changes: |
|||
| • | A simpler Form 5500 for plans with less than 25 participants for use in the 2007 and later plan years | ||
| • | The Form 5500-EZ filing threshold is increased from $100,000 to $250,000, effective for the 2007 plan year | ||
| • | Form 5500 is to be electronically posted within 90 days of the DOL’s receipt, starting with the 2008 plan year |
||
| Back to Commentary Index | |||