Form 5500 Preparation
Companies with more than 100 participants in their welfare benefit plans are required each year to file Form 5500 with the U.S. Department of Labor. A time-consuming and highly-complex process, human resource staffs often lack the manpower or specialized skills required to complete these documents. The penalties for late filings can be significant.
The Harrison Group’s professionals are knowledgeable of the challenges that may arise while completing timely, accurate and thorough Form 5500 filings. With extensive experience assisting clients with such filings, The Harrison Group can assist with a wide array of unique situations.
Employers must file the return by the last day of the seventh month after the Plan year-end. For calendar year plans, the due date is July 31st of the following year. A Summary Annual Report is also required to be distributed to all plan participants.