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2023 4.9 Satisfied (57 Votes)
2022 4.1 Satisfied (25 Votes)
2021 4.8 Satisfied (111 Votes)
2020 4.4 Satisfied (118 Votes)
2019 4.4 Satisfied (65 Votes)
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2010 4 Satisfied (27 Votes)
2002 4 Satisfied (60 Votes)
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That role refers to the party who is legally responsible for the plan and is typically the company that sponsors the plan. That means any person who is authorized to act on behalf of your company (as the sponsor of your 401(k) plan) can sign the Form 5500.
Employers who sponsor one-participant plans or foreign plans must file Form 5500-EZ electronically using the Department of Labors EFAST2 filing system.
All pension benefit plans and welfare benefit plans covered by ERISA must file a Form 5500 or Form 5500-SF for a plan year unless they are eligible for a filing exemption.
Generally, any business that sponsors a retirement savings plan must file a Form 5500 each year that the plan holds assets. Form 5500 Series reporting may also be required for certain employer-sponsored health and welfare plans, including medical, dental, life insurance and disability benefits.
There are 3 types of Form 5500: Form 5500-EZfor one-participant plans only; Form 5500-SF for plans with fewer than 100 participants; and Form 5500for plans with 100 or more participants. Forms 5500 and 5500-SF must be filed electronically using the DOL ERISA Filing Acceptance System (EFAST2)Opens in a new window.
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Advantages of a Non-ERISA Plan A non-ERISA plan does not need to comply with the plan document requirements, including providing a Summary Plan Description (SPD) to participants and quarterly and annual investment and financial information. Form 5500 and related schedules do not need to be filed.
The Form 5500 Series is part of ERISAs overall reporting and disclosure framework, which is intended to assure that employee benefit plans are operated and managed in ance with certain prescribed standards and that participants and beneficiaries, as well as regulators, are provided or have access to sufficient

form 5500 ez 2020