DOL Releases Revised Form for Employee Benefit Plan Report
Washington, DC, February 7, 2000 - The Department of Labor, the Internal Revenue Service, and the Pension Benefit Guaranty Corporation have released the revised Form 5500, Annual Return/Report of Employee Benefit Plans, for the 1999 reporting year. The new form is intended to streamline the report by requiring basic plan information in the main form and guiding filers to more detailed schedules through a checklist. The form must be filed with the Department’s Pension and Welfare Benefits Administration (PWBA), rather than the IRS.
In addition, a new computerized filing system, the ERISA Filing Acceptance System (EFAST), is available for 1999. To assist filers with EFAST, the Department has established a website to provide information about filing requirements, electronic filing options, software availability, upcoming seminars, new publications, and frequently asked questions.