The 401(k) Form 5500 – Frequently Asked Questions (FAQ)
To meet ERISA reporting requirements, most 401(k) plans must file a Form 5500 annually. This form is designed to disclose certain plan-related information to the Federal government and plan participants. There are three versions of the Form 5500, each with different filing requirements. In general, the largest 401(k) plans have the most detailed - and costly – filing requirements.
Government Shocker! The 401k Form 5500 May Become Useful Soon
Most 401k plans – except certain one person plans – must file a Form 5500 annually to satisfy their annual reporting requirements under ERISA and the Internal Revenue Code. The goal of the Form 5500 is to help the government and other stakeholders perform data-based 401k plan research.
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GAO suggests changes to the Form 5500 to promote clarity and consistency. We agree.
I think it is safe to say few people like Form 5500.
Form 5500: The Form that Needs Reform
You know them by number. The 1040. The W-2. The 3-fingered salute.