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Under the computerized ERISA Filing Acceptance System (EFAST), you can choose between two computer scannable forms to complete and file your 2008 Form 5500: "machine print" and "hand print." Machine print forms are completed using computer software from EFAST-approved vendors and can be filed electronically or by mail (including certain private delivery services). Hand print forms may be completed by hand, typewriter, or by using computer software from EFAST-approved vendors. Hand print forms can be filed by mail (including certain private delivery services); however, they cannot be filed electronically. For more information, see the instructions for How To File beginning on page 6.
To reduce the possibility of correspondence and penalties, we remind filers that:
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Paper forms must be obtained from the IRS or printed using software from an EFAST-approved software developer.
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Hand print and machine print forms generated by EFAST-approved software will not be processed if they are printed out blank, or with limited information, and then completed by pen or typewriter. Only official hand print paper forms printed by the IRS may be completed by pen or typewriter.
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All information should be in the specific fields or boxes provided on the forms and schedules. Information entered outside of the fields or boxes may not be processed.
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Filings using photocopies of the computer scannable forms and schedules may be returned or cause correspondence requiring additional information.
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Do not use felt tip pens or other writing instruments that can cause signatures or data to bleed through to the other side of the paper. One-sided documents should have no markings on the blank side.
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Paper should be clean without glue or other sticky substances.
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Do not staple the forms. Use binder clips or other fasteners that do not perforate the paper.
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Do not submit extraneous material or information, such as arrows used to indicate where to sign, notes between preparers of the report, notations on the form, e.g., “DOL copy,” etc.
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Do not submit unnecessary or blank schedules. Except for certain Schedule SSA filings, schedules should be submitted only with a Form 5500 or in response to correspondence regarding the processing of your return/report.
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Submit all schedules (including the correct number of schedules) for which a box is checked on Form 5500, Part II, line 10.
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Do not attach or send any payments to EFAST.
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All Forms 5500 and 5500-EZ must be filed with the EBSA either electronically using computer software from EFAST-approved vendors or at the EBSA address specified within the instructions. (See Where To File.)
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Clearly identify all attachments. At the top of each attachment, indicate the schedule and line, if any (e.g., Schedule I, line 4k), to which the attachment relates.
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Do not enter social security numbers on the Form 5500, schedules, or other attachments unless specifically required by the form, schedules, or instructions. The Form 5500 and most of the schedules are open to public inspection, and the contents are public information and are subject to publication on the Internet.
The Form 5500 annual return/report is used to report information concerning employee benefit plans and Direct Filing Entities (DFEs). Any administrator or sponsor of an employee benefit plan subject to ERISA must file information about each plan every year (pursuant to Code section 6058 and ERISA sections 104 and 4065). Some plans participate in certain trusts, accounts, and other investment arrangements that file a Form 5500 as DFEs. See Who Must File on page 3, When To File on page 4, and Where To File on page 6.
The Internal Revenue Service (IRS), Department of Labor (DOL), and Pension Benefit Guaranty Corporation (PBGC) have consolidated certain returns and report forms to reduce the filing burden for plan administrators and employers. Employers and administrators who comply with the instructions for the Form 5500 and schedules will generally satisfy the annual reporting requirements for the IRS and DOL.
Plans covered by the PBGC have special additional requirements, including premiums and reporting certain transactions directly with that agency. See PBGC's website (www.pbgc.gov/practitioners/) for information on premium filings and reporting and disclosure.
Each Form 5500 must accurately reflect the characteristics and operations of the plan or arrangement being reported. The requirements for completing the Form 5500 vary according to the type of plan or arrangement. The section What To File on page 8 summarizes what information must be reported for different types of plans and arrangements. The chart on pages 13 and 14 gives a brief guide to the annual return/report requirements for the 2008 Form 5500.
The Form 5500 and attachments are screened by a computer process for internal consistency and completeness. The filing may be rejected based upon this review. Employers and plan administrators should provide complete and accurate information and otherwise comply fully with the filing requirements.
ERISA and the Code provide for the assessment or imposition of penalties for not submitting the required information when due. See Penalties on page 7.
Annual reports filed under Title I of ERISA must be made available by plan administrators to plan participants and by the DOL to the public pursuant to ERISA sections 104 and 106. Schedules E and SSA are not part of the annual report filed under Title I of ERISA, and are not open to public inspection. The Pension Protection Act of 2006 (PPA) requires that the Department of Labor post on its website the actuarial pension funding information filed as part of a defined benefit pension plan's Form 5500 annual return/report. This requirement applies beginning with 2008 Form 5500 annual return/report. The DOL website, located at www.dol.gov/ebsa/actuarialsearch.html, can be searched by plan name, employer identification number (EIN), plan number (PN), plan year, and type of actuarial schedule. If a plan sponsor of defined benefit pension plan (or the plan administrator on behalf of plan sponsors) maintains an intranet website for the purpose of communicating with employees and not the public, the PPA requires the sponsor (or plan administrator) to post the plan's 2008 Form 5500 actuarial information on that intranet website.
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New Actuarial Schedules (Schedules MB and SB) – Under the PPA, separate actuarial information schedules were developed for 2008 plan year filings. Single-employer and multiple-employer plans now will use the Schedule SB and multiemployer and certain money purchase plans will now use Schedule MB. The Schedule B is not a valid schedule to file with a plan's 2008 Form 5500 annual return/report. Filers required to file an actuarial report cannot use the 2007 forms, including the 2007 Schedule B (Form 5500), to satisfy their 2008 filing requirements.
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Schedule R – PPA requires filers of certain pension plans to provide additional new information beginning with the 2008 plan year. For the 2008 plan year, this new information will be filed as attachments to the Schedule R. All multiemployer defined benefit plans are required to file attachments providing the information specified in the Schedule R instructions. In addition, all defined benefit plans (single-employer, multiple-employer, and multiemployer) with 1,000 or more participants are required to provide financial asset breakout information as an attachment to the Schedule R.
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2008 Short Plan Year Filing Requirements for Plans Required To File an Actuarial Schedule and Supplemental Schedule R Information – Filers who must file a Schedule MB or Schedule SB and/or a supplemental attachment to Schedule R for 2008 have an automatic extension to file their complete Form 5500 until 90 days after the 2008 forms are available to use for filing. Welfare plans and pension plans not required to file a Schedule MB, SB, or the supplemental questions on Schedule R may still use the 2007 forms for filing and do not have the extension of time.
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Voluntary Alternative Reporting Option for Certain Plans with Fewer Than 25 Participants – Under the Pension Protection Act of 2006 (PPA), a new simplified reporting option which was first available for 2007 plan year filings is also available for eligible plans for 2008 plan year filings for plans with fewer than 25 participants as of the beginning of the plan year. The instructions for Voluntary Alternative Reporting Option for Certain Plans with Fewer Than 25 Participants on page 9 describe this reporting option.
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2009 Short Plan Year Filings – Short 2009 plan year filers whose due date to submit their 2009 filing is before January 1, 2010, will be given an automatic extension to electronically file their complete Form 5500 annual return/report within 90 days after the 2009 filing system is available on the DOL website. See When To File for more information on due dates for short plan year filers. This special extension is being granted to encourage such short 2009 plan year filers to file their 2009 Form 5500 annual return/report electronically under EFAST2. Short 2009 plan year filers whose due date to submit their 2009 filing is before January 1, 2010, and who choose not to take advantage of the special extension, must use plan year 2008 forms and must submit their 2009 filing to EFAST on or before the due date for their short plan year filing.
If you need assistance completing this form, want to confirm the receipt of forms you submitted, or have related questions, call the EFAST Help Line at 1-866-463-3278 (toll-free) and follow the directions as prompted. The EFAST Help Line is available Monday through Friday from 8:00 am to 8:00 pm, Eastern Time.
You can order forms and IRS publications by calling 1-800-TAX-FORM (1-800-829-3676). You can order EBSA publications by calling 1-866-444-EBSA (3272).
You can access the EFAST website 24 hours a day, 7 days a week at www.efast.dol.gov to:
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View forms and related instructions.
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Get information regarding EFAST, including approved software vendors.
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See answers to frequently asked questions about the Form 5500 and EFAST.
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Access the main EBSA and DOL websites for news, regulations, and publications.
You can access the IRS website 24 hours a day, 7 days a week at www.irs.gov to:
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View forms, instructions, and publications.
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See answers to frequently asked tax questions.
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Search publications on-line by topic or keyword.
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Send comments or request help by e-mail.
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Sign up to receive local and national tax news by e-mail.
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