Form 5500

Understand your IRS forms

Form 5500 Instructions, Form 5500 schedule

Form 5500What is Form 5500?

IRS Form 5500 is an annual return and report of employee benefits, and it is used in the reporting of information on employee benefit programs. Anyone administrating or sponsoring an employee benefits program must file information about it each year with the IRS. Some employee benefits programs participate in accounts, trusts and other investments, so they must file as a direct filing entity.

The IRS, the Pension Benefit Guarantee Corporation and the Department of Labor have consolidated certain forms in order to make it easier on employers and plan administrators. Those who follow instructions for Form 5500 generally meet the annual reporting rules for both the Department of Labor and the IRS.

Those administering defined benefit and contribution plans may have to provide more information to the IRS, such as Form 5330, which concerns excise taxes for employee benefit plans, or Form 5310-A (Notice of Plan Consolidation or Merger). Plans under the Pension Benefit Guarantee Corporation must follow other requirements, such as reporting some transactions directly.

A Form 5500 has to truthfully reflect the different characteristics of the plan being reported on. The form’s requirements can vary according to the plan, and it has to be filed electronically. The forms will also be electronically screened, and the form has to meet all the screening’s requirements in order for it to be accepted.
Once the form is received by the IRS, it will be subject to further review.


Download Form 5500 at:

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