The US Department of Labor recently announced a two-month extension on the comment period related to the Form 5500 Modernization Proposals. A Notice of Proposed Revision of Annual Information Return/Reports was published in the Federal Register of July 21, 2016. The new deadline for the public to submit comments is December 5, 2016; the original deadline was October 4, 2016.
Form 5500 is the federal government’s primary source of information about the operation, funding, assets, and investments of pensions and other employee benefit plans. The proposed revisions are intended to improve and modernize the Form. Some believe the new requirements will be too burdensome, especially for small employers. See our previous blog entry on July 29th for more details on these concerns.
Click here to download the DOL Press Release.
To download this blog entry to PDF: DOL Announces 2 Month Extension on Public Comments for Form 5500