Categories: General Tax Terms
Form 5500 is an annual report required by the Employee Retirement Income Security Act (ERISA) for employee benefit plans, including pension and health plans.
This form provides information about the plan’s financial condition, investment performance, and operations. It is designed to ensure compliance with federal regulations and to facilitate the analysis of employee benefit plans by the Department of Labor, the Internal Revenue Service, and other regulatory agencies.
Employers who maintain qualified retirement plans or welfare benefit plans must file Form 5500 each year, typically by the last day of the seventh month after the end of the plan year, with possible extensions available. Failure to file can result in penalties.
« Back to Glossary Index