What is IRS form 5500-SF?

Pension and Welfare Plans Required To File Annual Return/Report. All pension benefit plans and welfare benefit plans covered by ERISA must file a Form 5500 or Form 5500-SF for a plan year unless they are eligible for a filing exemption.

Who fills out form 5500?

Form 5500 is the general form for most public and private sector businesses with 100 or more participants. Form 5500-SF is the short-form version for plans with fewer than 100 participants.

What does EFAST2 stand for?

The ERISA Filing Acceptance System II
About The ERISA Filing Acceptance System II (EFAST2)

Does a solo 401k have to file a 5500?

A one-participant 401(k) plan is generally required to file an annual report on Form 5500-EZ if it has $250,000 or more in assets at the end of the year. A one-participant plan with fewer assets may be exempt from the annual filing requirement.

Is form 5500 required for Simple IRA?

Similar to annual testing, neither the SEP nor the SIMPLE IRA is required to file a Form 5500 each year; whereas, both the SIMPLE 401(k) and the “regular” 401(k) must do so. In addition, they must file Form 8955-SSA to report former employees with remaining balances in the plan.

How do I fill out form 5500?

How To Fill Out Form 5500

  1. Enter Annual Report Information. The first step in completing IRS Form 5500 is to enter the Annual Report Identification Information necessary for Part 1.
  2. Complete Plan Information.
  3. Identify & Complete Relevant Additional Schedules.
  4. Sign and Submit Form 5500.

Can a 5500 be Docusigned?

Yes, if the plan administrator has authorized you to submit electronically the Form 5500/5500- SF/5500-EZ for the plan.

Do I have to file a 5500 for my solo 401k?

What is a section 5500-sf?

Section references are to the Internal Revenue Code unless otherwise noted. Under the computerized ERISA Filing Acceptance System (EFAST2), you must electronically file your 2009 Form 5500-SF, Short Form Annual Return/Report of Small Employee Benefit Plan.

How do I indicate the form 5500-sf is being filed under dfvc?

If the Form 5500-SF is being filed under the DFVC Program, check the appropriate box on Form 5500-SF, Part I, line C, to indicate that the Form 5500-SF is being filed under the DFVC Program.

What are the requirements for the audit waiver for form 5500-sf?

In order to be eligible to file the Form 5500-SF, a small pension plan must meet the audit waiver conditions by virtue of having 95% or more of its assets as “qualifying plan assets” in accordance with 29 CFR 2520.104-46 (b) (1) (i) (A) (1).

Can I use form 5500-sf instead of Form 5 500-ez?

You can no longer use Form 5500-SF in place of Form 5500-EZ. Certain foreign plans maintained outside the U.S. by a domestic employer or a foreign employer primarily for the benefit of nonresident aliens must file Form 5500-EZ rather than Form 5500. Advantages to filing your one-participant plan return electronically using Form 5500-EZ.