As we wrote in a recent post, a topic of significant importance in the benefits world is compliance with Department of Labor (ERISA) rules regarding annual Form 5500 reporting for employers.
As a quick refresher, Form 5500s are required for all retirement plans, and are required for all health and welfare plans that have 100 or more employee participants on the first day of any applicable plan year. This is a requirement often missed by employers, who fail to file for one or more health or welfare plans.
Last week, we hosted a webinar for employers with a refresher on relevant Form 5500 rules as well as a discussion of other key topics, including interaction with ERISA SPD requirements, common Form 5500 mistakes, and also the option for rectifying past noncompliance through the DOL’s Delinquent Filer Voluntary Compliance Program.
Our next regular session in June (June 16 at 11am) will feature an update on COBRA compliance.