Department of Labor

Definintion of a Fiduciary
The employee census is the beginning step of our annual administration of your plan.  It allows us to determine employee eligibility and calculate required and discretionary plan contributions.

Penalties
If an employee is terminating employment and is entitled to a benefit, we need their information in order to calculate their account balance, calculate vesting , and issue a 1099-R.

Participant
All plan participants need a beneficiary designated under the plan.  

IRS Forms

Form 5500
This form is required to be filed with the IRS on an annual basis.  The normal deadline for corporations to file is March 15, however with extension, the deadline to file is September 15.  There are a few exeptions for the annual filing requirement.  Filing Form 5500 requires additional Schedules, including but depending on thr plan type, not limited to Schedule A, C, D, G, H, I, and R.  This filing must be done electronically via the DOL's EFAST2 online submission system.

Form 5500SF
This form is required to be filed with the IRS on an annual basis.  The normal deadline for corporations to file is March 15, however with extension, the deadline to file is September 15. There are a few exeptions for the annual filing requirement.  No additional Schedules are required to be filed with Form 5500SF.

Form 5500EZ
This form is required to be filed with the IRS on an annual basis.  The normal deadline for corporations to file is March 15, however with extension, the deadline to file is September 15. There are a few exeptions for the annual filing requirement.  Note that this form is only required for small plans with 1 employee (or 2 employees is employee two is a spouse of employee 1).

Additional Resources

Additional Resource 1
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Additional Resource 2
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