REPORTING & DISCLOSURE CALENDAR FOR BENEFIT PLANS ppt

[...]... before beginning of plan year 11 2013 Reporting & Disclosure Calendar for Benefit Plans Internal Revenue Service (IRS) Requirements (Continued) ITEM & DESCRIPTION Form W-2 (Wage and Tax Statement) — IRC §3401, ACA §9002 & IRC §6051(a)(14) For reporting wages, sick pay, group legal services contributions or benefits, supplemental unemployment benefits, premiums for group-term life insurance above $50,000,... on time ITEM & DESCRIPTION Form 5558 (Application for Extension of Time) To request extension of time in which to file Form 5500 or Form 8955-SSA or both (maximum 2½ months) PLANS AFFECTED? All employee benefit plans subject to Form 5500 or Form 8955-SSA reporting SENT TO/FILED WITH? Filed with IRS SENT BY? Plan administrator WHEN DUE? On or before normal due date for filing Form 5500 or Form 8955-SSA... year Different deadlines apply to small plans (fewer than 100 participants) and to new plans (for first and second year) 19 2013 Reporting & Disclosure Calendar for Benefit Plans Pension Benefit Guaranty Corporation (PBGC) Requirements (Continued) ITEM & DESCRIPTION PBGC Form 10-Advance (Advance Notice of Reportable Events) — ERISA §4043 & PBGC Reg §4043 Subparts A & C Report of change or liquidation in... statement had to be furnished no later than 45 days after end of quarter during which initial disclosures were first required (11/14/12 for calendar- year plans) 8 2013 Reporting & Disclosure Calendar for Benefit Plans Department of Labor (DOL) Requirements (Continued) ITEM & DESCRIPTION PLANS AFFECTED? DC plans with participant-directed investments that want protection under §404(c) SENT TO/FILED WITH?... pension plans amortizing funding waivers); Schedule R (Retirement Plan Information, filed by DB plans and, with certain exceptions, DC plans) ; and Schedule SB (Single Employer Actuarial Information, filed by single-employer DB plans) 13 2013 Reporting & Disclosure Calendar for Benefit Plans Joint DOL/IRS Requirements (Continued) ITEM & DESCRIPTION Notice of Right to Defer Distribution and Consequences... be reported PLANS AFFECTED? Welfare benefit plans, employers SENT TO/FILED WITH? Sent to participants on written request Filed with Social Security Administration (SSA) (magnetic media required for 250 or more forms) SENT BY? Employer WHEN DUE? Send to participants before 2/1 and to SSA before 3/1 of calendar year following distribution File with Form W-3 ITEM & DESCRIPTION Form 990 & Form 990EZ (Annual... before regular filing date for Form 8928) 12 2013 Reporting & Disclosure Calendar for Benefit Plans Joint DOL/IRS Requirements ITEM & DESCRIPTION PLANS AFFECTED? All employee benefit plans (exceptions for certain welfare arrangements of non-multiemployer plans, certain apprenticeship plans and certain dependent care assistance plans) SENT TO/FILED WITH? Sent to participants and beneficiaries on written... taxes PLANS AFFECTED? Group health plans SENT TO/FILED WITH? No participant -reporting requirement Filed with IRS FILED BY? Plan administrator WHEN DUE? Must be filed on or before due date for filing responsible party’s federal income tax return An automatic six-month extension is available by filing Form 7004 (which must be filed on or before regular filing date for Form 8928) 12 2013 Reporting & Disclosure. .. fiscal year (or calendar year, if controlled group members have different fiscal years) Electronic filing required in most circumstances WHEN DUE? 20 2013 Reporting & Disclosure Calendar for Benefit Plans Pension Benefit Guaranty Corporation (PBGC) Requirements (Continued) ITEM & DESCRIPTION PBGC Form 200 (Notice of Failure to Make Required Contributions) — IRC §430(k)(4), ERISA §302(f)(4) & PBGC Reg §4043-81... possible ITEM & DESCRIPTION Disclosure of Plan Fees and Expenses — ERISA §404(a) & DOL Reg §2550.404a-5 Required annual disclosure of specified plan information and specified investment-related information, quarterly statements of fees deducted from individual accounts and disclosure upon request for certain specified investment-related information Required annual investment information must be in form of . initial disclosures were first required (11/14/12 for calendar- year plans) . 2013 Reporting & Disclosure Calendar for Benefit Plans 9 Department of Labor (DOL) Requirements (Continued) ITEM &. date for Form 8928). 2013 Reporting & Disclosure Calendar for Benefit Plans 13 Joint DOL/IRS Requirements ITEM & DESCRIPTION Form 5500 Series (Annual Return/Report of Employee Benefit. deadline applicable to DOL for posting full Form 5500 on DOL website, within 90 days of Form 5500 filing date 2013 Reporting & Disclosure Calendar for Benefit Plans 8 Department of Labor