Form 5500 Tax Filing Preparation

Understanding Form 5500

A Form 5500 annual filing is required by the Department of Labor of most employers with 100 or more participants in a Welfare Benefit Plan as defined by the Employee Retirement Income Security Act of 1974 (ERISA).

Form 5500 filings for Welfare Benefit Plans are due 7 months after the end of the Plan Year. The Department of Labor does permit a two and a half month extension by filing a Form 5588.

Organizations may be exempt from this filing; examples of exempt organizations are those that have less than 100 participating employees and/or are exempt from ERISA. Employers typically exempt from ERISA are government organizations and most church plans.

Effective January 1, 2010, all Form 5500 Annual Returns/Reports of Employee Benefit Plan and all Form 5500-SF Short Form Annual Returns/Reports of Small Employee Benefit Plan for 2009 and 2010 plan years, and any required schedules and attachments, must be completed and filed electronically.

Plans That Are Subject To ERISA And Require Filing

  • Accidental Death & Dismemberment
  • Cancer Insurance
  • Daycare Center, Emergency Daycare Center
  • Dental Plan
  • Disability Benefit (Long Term & Short Term)
  • Group Term Life
  • Health Insurance
  • Pharmacy
  • Prepaid Legal Assistance
  • MSA
  • Medicare Premium Subsidy
  • Prescription Drug Benefit Advantage LLC Scholarships (if funded)
  • Sick Pay Plans (if funded)
  • Vision
  • Health FSA