H&W: Form 5500 Automatic Extension Remains at 2 ½ Months

On December 4, 2015, Congress repealed the Form 5500 extension period that had been increased back in July of this year.  In July, the automatic extension of 2 ½ months was increased to 3 ½ months for plan years beginning in 2016.  This increased extension period has now been repealed and will remain at 2 ½ months.

Under ERISA and the Internal Revenue Code employee benefit plans generally are required to file the Form 5500, ‘‘Annual Return/ Report of Employee Benefit Plan,’’ together with any required attachments and schedules.  The Form 5500 is not a tax return.  It is an informational return, required by and filed with, the Department of Labor (DOL).  It also serves as a disclosure document for plan participants and beneficiaries, and an important source of information and data for use by other Federal agencies.