Short Form Annual Return/Report of Small Employee Benefit …

1 Department of the Treasury Department of Labor pension Benefit Internal Revenue Service Employee Benefits Guaranty Corporation Security Administration 20. Instructions for Form 5500-SF. Short Form Annual Return/Report of Small Employee Benefit Plan Code section references are to the Internal Revenue Code Index .. 26. unless otherwise noted. ERISA refers to the Employee Retirement Income Security Act of 1974. Changes to Note EFAST2 Processing System Instructions for Form 5500-SF. The instructions have been Under the computerized ERISA Filing Acceptance System revised to reflect that, effective for plan years beginning after (EFAST2), you must electronically file your 2020 Form 2019, a one-participant plan or a foreign plan required to file an 5500-SF, Short Form Annual Return/Report of Small Annual return can file Form 5500-EZ electronically using the Employee Benefit Plan.

2 You may file your 2020 Form EFAST2 filing system in place of filing Form 5500-EZ on paper 5500-SF online using EFAST2's web-based filing system with the IRS. Form 5500-SF is no longer used by a one- or you may file through an EFAST2-approved vendor. You participant plan or a foreign plan in place of Form 5500-EZ. cannot file a paper Form 5500-SF by mail or other delivery Administrative Penalties. The instructions have been updated service. For more information, see the instructions for How to reflect an increase to $2,233 per day in the maximum civil To File Electronic Filing Requirement on page 6 and the penalty amount assessable under Employee Retirement EFAST2 website at Income Security Act section 502(c)(2), as required by the Federal Civil Penalties Inflation Adjustment Act Improvements How To Get Assistance Act of 2015.

3 The increased penalty under section 502(c)(2) is If you need help completing this form, or have other applicable for civil penalties assessed after Jan. 15, 2020, questions, call the EFAST2 Help Line at whose associated violation(s) occurred after Nov. 2, 2015. (85 1-866-GO-EFAST (1-866-463-3278) (toll free) or access FR 2292 (January 15, 2020)). the EFAST2 or IRS websites. The EFAST2 Help Line is Line 10f. The instructions for Line 10f has been revised to available Monday through Friday from 8:00 am to 8:00 pm, Eastern Time. increase the required minimum distribution age from 70 to 72, as amended by the Setting Every Community Up for Retirement You can access the EFAST2 website 24 hours a day, 7. Enhancement Act of 2019 (SECURE Act). days a week at to: Table of Contents Page File the Form 5500-SF or 5500 and any needed EFAST2 Processing 1 schedules or attachments.

4 How To Get Assistance .. 1 Check on the status of a filing you submitted. General Instructions .. View filings posted by EFAST2. pension and Welfare Plans Required To File Register for electronic credentials to sign or submit Annual 2 filings. Plans Exempt from Filing .. 2 View forms and related instructions. Who May 3 Get information regarding EFAST2, including approved What To File .. 4 software vendors. When To File .. 4 See answers to frequently asked questions about the Extension of Time To File .. 4 Form 5500-SF, the Form 5500 and its schedules, and Delinquent Filer Voluntary Compliance (DFVC) EFAST2. Program .. 5 Access the main Employee Benefits Security Change in Plan Year .. 5 Administration (EBSA) and DOL websites for news, Penalties .. 5 regulations, and publications.

5 How To File Electronic Filing Requirement .. 5 You can access the IRS website 24 hours a day, 7. Signature and Date .. 6 days a week at to: Specific Line-by-Line Instructions .. 7. Part I Annual Report Identification View forms, instructions, and publications. Information .. 7 See answers to frequently asked tax questions. Part II Basic Plan Information .. 8 Search publications online by topic or keyword. Part III Financial Information .. 12 Send comments or request help by e-mail. Part IV Plan Characteristics .. 13 Sign up to receive local and national tax news by e-mail. Part V Compliance 14 You can order other IRS forms and publications at Part VI pension Funding Compliance .. 17 You can order EBSA publications Part VII Plan Terminations and Transfers of Assets 17 by calling 1-866-444-EBSA (3272).

6 Paperwork Reduction Act Notice .. 19. List of Plan Characteristics Codes .. 20 General Instructions Codes for Principal Business Activity .. 22 The Form 5500-SF, Short Form Annual Return/Report of ERISA Compliance Quick Checklist .. 25 Small Employee Benefit Plan, is a simplified Annual reporting form for use by certain Small pension and Form 5500-SF entries will be initially screened electronically. welfare Benefit plans. To be eligible to use the Form Your entries must satisfy this screening for your filing to be 5500-SF, the plan must: received. Once received, your form may be subject to further Be a Small plan ( , generally have fewer than 100 detailed review, and your filing may be rejected based upon participants at the beginning of the plan year), this further review.

7 Meet the conditions for being exempt from the ERISA and the Code provide for the assessment or requirement that the plan's books and records be audited imposition of penalties for not submitting the required by an independent qualified public accountant (IQPA), information when due. See Penalties on page 5. Have 100% of its assets invested in certain secure Annual returns/reports filed under Title I of ERISA must investments with a readily determinable fair value, be made available by plan administrators to plan Hold no employer securities, participants and beneficiaries and by the DOL to the public Not be a multiemployer plan and, pursuant to ERISA sections 104 and 106. Pursuant to Not be required to file a Form M-1, Report for Multiple- Section 504 of the pension Protection Act of 2006 (PPA), Employer Welfare Arrangements (MEWAs) and Certain this availability for defined Benefit pension plans must Entities Claiming Exception (ECEs) for the plan year.

8 Include the posting of identification and basic plan Plans required to file an Annual Return/Report that are not information and actuarial information (Form 5500-SF, eligible to file the Form 5500-SF, must file a Form 5500, Schedule SB or MB, and all of the Schedule SB or MB. Annual Return/Report of Employee Benefit Plan, with all attachments) on any plan sponsor intranet website (or required schedules and attachments (Form 5500), or Form website maintained by the plan administrator on behalf of 5500-EZ, Annual Return of A One-Participant the plan sponsor) that is used for the purpose of (Owners/Partners and Their Spouses) Retirement Plan or A communicating with employees and not the public. Section Foreign Plan. 504 also requires DOL to display such information on DOL's website within 90 days after the filing of the plan's To reduce the possibility of correspondence and Annual Return/Report .

9 To see 2009 and later Forms 5500- penalties, we remind filers that the Internal Revenue Service SF, including actuarial information, see (IRS), Department of Labor (DOL), and pension Benefit See for 2008 and Guaranty Corporation (PBGC) have consolidated their Short plan year 2009 actuarial information filed under the Annual Return/Report forms to minimize the filing burden for previous paper-based system. Employee Benefit plans. Administrators and sponsors of Employee Benefit plans generally will satisfy their IRS and pension and Welfare Plans Required To DOL Annual reporting requirements for the plan under ERISA. sections 104 and 4065 and Code sections 6058 and 6059 by File Annual Return/Report filing either the Form 5500, Form 5500-SF, or Form 5500-EZ. All pension Benefit plans and welfare Benefit plans covered Defined contribution and defined Benefit pension plans may by ERISA must file a Form 5500 or Form 5500-SF for a have to file additional information with the IRS including: plan year unless they are eligible for a filing exemption.

10 Form 8955-SSA, Annual Registration Statement Identifying (See Code sections 6058 and 6059 and ERISA sections Separated Participants with Deferred Vested Benefits; Form 104 and 4065). An Annual Return/Report must be filed even if 5330, Return of Excise Taxes Related to Employee Benefit the plan is not tax qualified, benefits no longer accrue, Plans; Form 5310-A, Notice of Plan Merger or Consolidation, contributions were not made during this plan year, or Spinoff, or Transfer of Plan Assets or Liabilities; Notice of contributions are no longer made. pension Benefit plans Qualified Separate Lines of Business. See for required to file include both defined Benefit plans and more information. Defined Benefit pension plans covered by defined contribution plans. Profit-sharing plans, stock bonus the PBGC have special additional requirements, including plans, money purchase plans, 401(k) plans, Code section filing premiums and reporting certain transactions directly 403(b) plans covered by Title I of ERISA, and IRA plans with that agency.