If your company’s retirement plan operates on a calendar year, the deadline is fast approaching to file Form 5500 series (this includes Form 5500, Form 5500-EZ and Form 5500-SF). Most retirement plan sponsors must file Form 5500 within seven months of the close of the plan year, which for calendar-year plans means July 31st.
At Pinnacle Plan Design, we strive to make this annual process smooth and stress-free for our clients. We complete Form 5500 on behalf of the plan sponsor and then ask them to review the form and electronically sign it before the submission deadline. Then, Pinnacle Plan Design electronically transmits Form 5500 to the Department of Labor (DOL) on behalf of the plan sponsor. We try to take as much work off of our clients’ plates as possible, as we know the employee benefit plan is often the last thing on a business owner’s mind.
Of course, if your plan’s Form 5500 series isn’t ready to be filed, you can extend the filing due date by 2 ½ months by filing an extension (Form 5558) before July 31st. Other filings that are also due at this time include the Form 8955-SSA and Form 5330. These forms can also be extended by completing Part II (Form 8955-SSA) or Part III (Form 5330) on the Form 5558 prior to filing the extension (also, remember, if this is the first time the plan is filing a Form 5500 series, check the required box in Part II). If you need help with the filing of your Form 5500 series, please contact Pinnacle today!
Robbie Petrillo is the marketing coordinator at Pinnacle Plan Design. 