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ARTICLE · 04 AUGUST 2016

Proposed Changes To Form 5500 Reporting Requirements May Have Significant Impact On Retirement Plan Sponsors

McDermott Will & Emery
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The proposed revisions to existing reporting requirements would impose a number of changes that would impact small retirement plans.

United StatesEmployment and HR
Joseph Urwitz
Joseph Urwitz
Megan Mardy
Megan Mardy
Sarah Engle
Sarah Engle
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Summary

On July 11, 2016, the Department of Labor (DOL), Internal Revenue Service (IRS) and Pension Benefit Guaranty Corporation (PBGC) announced a proposal to implement sweeping changes to the forms and regulations that govern annual employee benefit plan reporting on Form 5500. The proposed changes, which were published in the Federal Register on July 21, 2016, would significantly increase the annual reporting obligations for nearly all retirement plans. The changes also would have a considerable impact on employer-sponsored group health plans. For more information about the effect of the proposed changes on health and welfare plan sponsors, see Proposed Changes to Form 5500 Would Significantly Increase Reporting Obligations for Health and Welfare Plan Sponsors.

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