Labor Department Releases Advance Form 5500 Annual Report And Filing Requirements

Archived News Release — Caution: Information may be out of date.

Washington, DC - The U.S. Department of Labor’s Employee Benefits Security Administration (EBSA), the Internal Revenue Service (IRS) and the Pension Benefit Guaranty Corporation (PBGC) today released advance copies of the 2005 Form 5500.

“By making the forms and instructions available early and streamlining them, the filing process will be more efficient for plans and service providers,” said Ann L. Combs, assistant secretary of labor for employee benefits security.

The modifications to the Form 5500 for plan year 2005 are described under “Changes to Note” in the 2005 Instructions. Of particular importance, the Schedule T (Qualified Pension Plan Coverage Information) is no longer required; the instructions for the Schedule A (Insurance Information) reflect EBSA guidance issued earlier this year on reporting of insurance fees and commissions; and the Schedule B (Actuarial Information) and its instructions improve reporting on investment returns, actuarial assumptions, and the summary of eligibility and benefit provisions used in plan valuations.

Information copies of the forms, schedules and instructions are available on EBSA’s Web site at www.efast.dol.gov. Filers should monitor the EFAST Web site for information on approved software vendors for completing the 2005 forms and on the availability of the official, government printed forms. Advance copies of the 2005 Form 5500 cannot be used for 2004 filings.

For general assistance, contact the EFAST Help Line at 1.866.463.3278.

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Archived News Release — Caution: Information may be out of date.