The government shut down did not delay the due date for a calendar year plan's Form 5500.
Pension and welfare benefit plans subject to ERISA must file a form 5500 annually to report their financial condition, investments and operations. Welfare plans with fewer than 100 participants may be exempt from the filing requirement.
A Form 5500 is due the last day of the seventh month after the plan year ends. This is July 31 for a calendar-year plan. Many employers use IRS Form 5588 to request an extension of the filing due date. If filed, the extension provides an additional 2 and a half months to file the Form 5500. For calendar year plans, the extension period would extend the Form 5500 due date to October 15. Employers with calendar year plans should confirm that their annual Form 5500 (if required) was filed by the due date or extended due date.
The Department of Labor may apply penalties when a plan administrator does not timely file an annual report. DOL penalties of up to $1,100 per day may be applied for each required Form 5500 which is late, incomplete, or not prepared and filed by the deadline. The Department of Labor does offer a voluntary filing relief program which may provide reduced compliance penalties.
All employers subject to ERISA should review their plan records to confirm that required Form 5500s were filed timely for the applicable plan year.
