Each year, Landmark Benefits will file a return regarding our clients’ plans financial condition, investments, and operations. The annual reporting obligation is generally satisfied by filing the Form 5500 Annual Return/Report of Employee Benefit Plan, plus any required schedules and attachments.
The Form 5500 series is intended to protect the rights and benefits of plan participants and beneficiaries by assuring that:
In addition, the Form 5500 series is an important compliance, research and disclosure tool for the DOL. It is also a source of information and data for use by other federal agencies, Congress and the private sector in assessing employee benefit, tax and economic trends and policies.
An employee benefit plan’s Form 5500 or 5500-SF must accurately reflect the plan’s characteristics and operations for the reporting period. An employee benefit plan administrator’s reporting obligations under the Form 5500 or 5500-SF will vary based on the type and size of benefit plan involved. For example, the administrator of a small, insured health plan will typically have significantly fewer reporting obligations than the administrator of a large pension plan.