5500
Form Filings Suspended
On
April 4, 2002, the IRS announced that the 5500 Form
Filing requirement has been suspended indefinitely.
Plan Sponors of Cafeteria Plans, Educational Assistance
Plans and Adoption Assistance Programs will no longer
have to file a Schedule F. The release does not affect,
however, the filing requirement applicable to ERISA
plans, including health flexible spending accounts.
It is noteworthy that small plans will no longer
have a Form 5500 obligation as long as they continue
to remain a small plan as defined by ERISA. A small
plan is defined under ERISA as a plan with under
100 covered on the first day of the Plan Year.
If you are unsure of your filing requirements, please
contact our office for assistance. The IRS has also
recently posted Form 5500 filing tips on its website.
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