Form 5500

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Form 5500

A form a plan administrator files with the IRS to report information on the retirement plans offered to employees. This form is filed in order to ensure compliance with the Employee Retirement Income Security Act.
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Capital Bauer currently discloses compensation on a voluntary basis in our property and casualty business and on a mandatory basis in our employee benefits practice as required by the 5500 form.
"There is no IRS testing, no 5500 form to be filed every year, and the costs of administration, which are negligible to begin with, are passed on to the employees.
ftwilliam.com is one of the first vendors to release the 5500 forms and updates annually, allowing practitioners to get an early start on completing the forms and is known throughout the industry for its outstanding product support.
For example, the information can be obtained from the DOL's website for 5500 forms.
But there are other ways they are able to build out comparison tools." One is to look at other plans' filed 5500 forms, he says.
Steve Van Scoik, an insurance agent in Elkhart, Indiana, wrote to say requiring small employers to file 5500 forms could "be the death of small group plans, especially under 50 lives."
The administrator also provides annual processing of all IRS and Department of Labor forms, plan valuation and 5500 forms.
These include triggering obligations to file 5500 Forms, develop plan documents and summary plan descriptions, include HIPAA-COBRA and other required language where appropriate, and follow nondiscrimination rules.
In each FSA implementation, I have used an outside administrator to provide summary plan descriptions, file 5500 forms, perform initial employee communications and provide all claims administration.