Plans subject to ERISA must file information annually
An administrator or sponsor of an employee benefit plan subject to ERISA must file information about each plan every year.
A Form 5500-EZ may generally be filed for a plan that provides benefits solely for an individual (and spouse) who wholly owns a trade or business; or partners or partners (and spouses) in a partnership. The following IRS chart outlines which forms must be filed for 401(k) plans.
ITEM | EXPLANATION |
DUE TO: |
| Form 5500, Annual Return/Report of Employee Benefit Plan or Form 5500-EZ, Annual Return of One-Participant (Owners and Their Spouses) Retirement Plan PDF with applicable schedules and independent auditor's report, if applicable. | An administrator or sponsor of an employee benefit plan subject to ERISA must file information about each plan every year. | IRS/DOL: By the last day of 7th month after the end of the plan year.
|
Form W-2, Wage and Tax Statement PDF and Form W-3, Transmittal of Wage and Tax Statements PDF | Reports wages and the amount of elective deferrals for a 401(k) plan. | Employees: By January 31 following the calendar year. IRS: by February 28 following the calendar year. |
Additional reports may be required under various circumstances including reporting distributions, rollovers, and income tax withheld from distributions.
If you would like help getting started with a 401(k) plan for your small business, schedule an introductory call with an advisor today.
Source: https://www.irs.gov/retirement-plans/plan-sponsor/401k-resource-guide-plan-sponsors-filing-requirements
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