Current Focus of the DOL
Phyllis Borzi revealed some of the thoughts behind certain DOL initiatives, and asked for help from the industry.
Tag: 5500
IRS Clarifies Rules for Hardship-Related eFiling Waivers
The IRS published procedures for plan sponsors to request a waiver of the electronic filing requirements for Form 8955-SSA and...
Webcast to Cover Updates to IRS Employee Plans Programs
The agency is hosting a free webcast in which the determination letter program and new pre-approved plan document programs will...
Form 5500 Filing Extension Extended
Also extended is a provision in prior pension reform allowing over-funded pensions to use their excesses to fund retiree health...
IRS Provides Summary of Form 5500 Changes
The Form 5500 filing deadline is July 31 for calendar year-end retirement plans.
(b)lines Ask the Experts – Form 5500 Fee Info Doesn’t Match Plan Expenses
“I am commencing the process of reviewing the 2014 Form 5500 for our calendar-year ERISA 403(b) plan.
DOL Wants More Control over Plan Audits
The DOL says its study on the quality of benefit plan audits performed by certified public accountants reveals serious issues...
AICPA Making Efforts to Enhance Plan Audit Quality
A study by the DOL has alerted the AICPA to some issues with retirement plan financial audits.
IRS Shares Tips for Avoiding Form 5500 Scrutiny
The IRS revealed Form 5500 errors it found during various compliance projects, which could cause a plan to be selected...
(b)lines Ask the Experts – Prepare for 2014 Form 5500 Change
January 13, 2015 (PLANSPONSOR (b)lines) – “I understand that the new 2014 5500 form/instructions have been issued. Are there any...
The Importance of Hiring a Skilled Plan Auditor
For plan sponsors with more than 100 participants, one of the most important fiduciary duties is to ensure the plan...
DOL Puts Out Form 5500 Advance Copies
Retirement plan sponsors get a glimpse of any changes in Form 5500 filing requirements from the newly released advance copies...
Form 5500 Precision Is All in the Details
Sometimes, Form 5500 errors can come down to something as simple as a single number. Here are some goofs for...
Form 5500 Filings Can Reveal Prohibited Transactions
Retirement plan sponsors should be on the lookout for prohibited transactions that may or should be revealed on the Form...
(b)lines Ask the Experts – Reporting Participants Who Have Withdrawn Accounts
October 28, 2014 (PLANSPONSOR (b)lines) – “I noticed in our recently filed Form 8955-SSA, we report individuals who terminated employment,...
Final Rules Issued About Filing Returns on Magnetic Media
October 1, 2014 (PLANSPONSOR.com) – The Internal Revenue Service (IRS) issued final regulations relating to the requirements for filing certain...
(b)lines Ask the Experts – Managing Form 5500 Filing for Multiple Plans
August 5, 2014 (PLANSPONSOR (b)lines) – “I work for a large nonprofit hospital, and through a series of acquisitions we...
Making Sure Your Form 5500 Is Ready to File
July 30, 2014 (PLANSPONSOR.com) – Annual filings always bring a swirl of activity, and July 31 is no different. It...
GAO Recommends Changes to Form 5500
July 7, 2014 (PLANSPONSOR.com) – The Government Accountability Office (GAO) is recommending that regulators consider modifying Form 5500 plan investment...
Puerto Rico Pension Codes Misapplied on Form 5500
May 22, 2014 (PLANSPONSOR.com) – The Internal Revenue Service (IRS) has found some plan sponsors misunderstand Puerto Rico-related pension feature...