[UPDATED] US Department of Labor releases informational copies of 2022 Form 5500 Series Annual Return/Report

WASHINGTON – The U.S. Department of Labor’s Employee Benefits Security Administration, the IRS, and the Pension Benefit Guaranty Corp. today released informational copies of the 2022 Form 5500, Form 5500-SF and their related instructions. Informational copies of the IRS 2022 Form 5500-EZ and its instructions will be separately released on the IRS website after Jan. 1, 2023.

Pension and welfare benefit plans required to file an annual return/report regarding their financial condition, investments and operations generally file the necessary Form 5500 series return/report form along with required schedules and attachments.

The Changes to Note section of the 2022 instructions for each of the forms highlights important modifications to the forms, schedules and instructions. The Form 5500 and Form 5500-SF Changes to Note sections include changes related to:

• Multiple-employer plans.
• Administrative penalties.
• Schedule MB for multiemployer defined benefit plan and certain money purchase plan actuarial information.
• Schedule R for retirement plan information.
• Schedule SB for single employer defined benefit plan actuarial information.

Informational copies cannot be used to file a 2022 Form 5500 Series Annual Return/Report. Filers should monitor efast.dol.gov for information on when the official electronic versions are available and can be filed using software from EFAST2-approved vendors or directly through the EFAST2 website. Assistance with EFAST2 is available online or by calling the EFAST2 Help Desk at 866-463-3278.

In addition, EBSA is modernizing the EFAST2 website authentication process. The existing EFAST2-issued User ID and password log-in process is being phased out and will be replaced by the unified Login.gov single sign-on solution for U.S. government websites. Login.gov enables users to securely log in to many government agencies’ services with a single username and password.

Beginning Jan. 1, 2023, all new EFAST2 website accounts will be created using the Login.gov process. Existing filers may use their EFAST2-issued User ID and password to log in to the EFAST2 website until Sept. 1, 2023. This eight-month grace period provides a gradual transition for filers. However, existing filers may change to a Login.gov account as early as Jan. 1, 2023.

Logging into the EFAST2 website is required to obtain new electronic signature credentials for the Form 5500 Series. It is also required to file the Form PR or to use IFILE, the government’s free Form 5500 Series filing application. Logging into the EFAST2 website is generally not necessary for existing Form 5500 Series filers using approved private software.

Ed. note: The original version of the release issued on Dec. 8, 2022 stated that IRS Form 5500-EZ was also available. The form will not be available on the IRS web site until after Jan. 1, 2023.