Reminder for Calendar Year Plans to File Form 5500 (or an Extension) By End of July

Group benefit plans subject to ERISA generally must file a Form 5500 with the Department of Labor (DOL) by the end of the seventh month following the close of the plan year.  For calendar year plans, that’s usually the end of July (but this year July 31 falls on the weekend, so the due date is Monday, August 2).  Employers are generally exempt from ERISA (and this filing) if they sponsor a governmental plan or church plan.  All other employers are subject to ERISA but still might be exempt from this filing if they have fewer than 100 participating current and former employees (such as those enrolled in COBRA) as of the first day of the plan year.  However, it’s worth noting that small plan exemption isn’t available if participating in a multiple employer welfare arrangement (MEWA) or a funded plan (utilizing a trust).

We facilitate this process on your behalf when we are your benefits consultant.  This includes gathering the required Schedule A from each insurance company, completing your signature-ready 5500, and e-filing it for you.  If you have any questions about this process, just let your IMA Benefits team know!

IMA will continue to monitor regulator guidance and offer meaningful, practical, timely information.

This material should not be considered as a substitute for legal, tax and/or actuarial advice. Contact the appropriate professional counsel for such matters. These materials are not exhaustive and are subject to possible changes in applicable laws, rules, and regulations and their interpretations.