Health and Welfare Form 5500 Requirements

This document is about the ERISA Advisory Council's study of the current Form 5500 requirements for health and welfare plans. The working group assessed the usefulness of the Form 5500 data to the Department of Labor, explored the possibility of separate forms for health and welfare plans, examined the costs and efforts by plan sponsors and third-party administrators to prepare the form, and evaluated the value of the existing audit requirements. The report includes findings and recommendations for short-term and long-term changes to the Form 5500 and audit requirements.