Form 5500-SF

Form 5500-SF

A form that a small pension fund or similar small retirement plan files with the IRS for annual reporting purposes. In order to be eligible to file Form 5500-SF, a pension or plan must have fewer than 100 participants, be held by one employer, hold no securities in that employer's company, and have independently audited books. This form is filed electronically.
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The Changes to Note section of the 2017 instructions highlight important modifications to the Form 5500 and Form 5500-SF and their schedules and instructions.
Line 4 of the Form 5500 and Form 5500-SF have been changed to provide a field for filers to indicate the name of the plan has changed.
For example, the confirmation number for the 2017 premium filing is reported on the 2017 Form 5500-SF.
Even though nondiscrimination testing isn't required, a Solo 401(k) plan generally must file an annual report on Form 5500-SF if it has $250,000 or more in assets at the end of the year.
Based on comments received in response to a Paperwork Reduction Act notice regarding the 2016 Form 5500 and Form 5500-SF, the Internal Revenue Service (IRS) announced that filers who have made a concerted effort to locate missing participants will face less of a reporting burden associated with the missing individuals.
Once assets cross this threshold, you are required to submit Form 5500-SF or 5500-EZ to the IRS.
Most Form 5500-SF filers will not be required to file any schedules.
EBSA points out that 403(b) plan administrators now must file basic financial and other compliance information annually with the government on a Form 5500 or Form 5500-SF.
Form 5500-SF is retained for certain small plans (generally, fewer than 100 participants) with secure and easy-to-value investment portfolios.
The two-page Form 5500-SF is to be used to satisfy the voluntary alternative reporting option imposed by the PPA for certain pension plans with fewer than 25 participants.
The Changes to Note section of the 2016 instructions highlight important modifications to the Form 5500 and Form 5500-SF and their schedules and instructions:
Similarly, filers who are using the Form 5500-SF to satisfy their annual reporting requirement should not complete the Preparers Information at the bottom of the first page, Part VIII-Trust Information, and Part IX-IRS Compliance Questions on the Form 5500-SF.