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Changes to Forms 5500 for 2014

The 2014 Form 5500-series returns have these changes as released by the Department of Labor.

Form/Schedule Changes made to form/schedule
Form 5500

Line A, multiple-employer plans - updated and, if selected, you must include an attachment listing information for each participating employer along with a good faith estimate of each participating employer’s share of the total contributions for the year.
 

Line 6a(1) - "Total number of active participants at the beginning of the plan year" is new for 2014.

Form 5500-SF

Line A - updated to include more information on multiple-employer plans and to add an option for foreign plans.
 

Lines 5d(1) - “Total  number  of  active participants at the beginning of the plan year” and  5d(2) “Total number of participants at the end of the plan year” are new for 2014.
 

Line 5e - you must now provide the number of participants that terminated employment during the plan year with accrued benefits that were not fully vested.

Form 5500 – Schedule H Line 1c (13), Form 5500 instructions - enhanced to set out what is an investment company registered under the Investment Company Act of 1940.
Form 5500 – Schedule MB Line 4f - new and requires plans in critical status to provide information about the plan year in which a plan is projected to emerge from critical status or, if the rehabilitation plan is based on forestalling possible insolvency, the plan year in which insolvency is expected.

Form 5500 – Schedule SB 

 

Line 3 - updated to report the vested and total funding targets separately for each type of participant.
 

Line 11b -  split into :

  • Line 11b(1) is the calculation based on the prior year's effective interest rate.
  • Line 11b(2) is the calculation based on the prior year's actual return.


Line 15 instructions - modified for situations in which the AFTAP was not certified for the plan year.
 

Line 27 - modified to reflect funding changes under the Cooperative and Small Employer Charity Pension Flexibility Act of 2014 for impacted defined benefit plans.

EFAST will allow you to submit complete electronic returns for the current and three prior plan years; therefore, any Form 5500 filings for plan years prior to 2011 filed after January 1, 2015, must be submitted on 2014 forms. You must attach correct-year Schedules B, SB, MB, E, P, R, and T to your filing as PDF images tagged as "Other Attachments."

See the Department of Labor’s Form 5500 Version Selection Tool for information on which version of the Form 5500 and Schedules you should use.

Page Last Reviewed or Updated: 12-May-2016