Q.- Do we have to file a Form 5500 for our cafeteria plan?
A.- There is no Form 5500 filing requirement for a cafeteria plan itself. A cafeteria plan, governed by Internal Revenue Code Section 125, is simply a mechanism that allows employees to pay for certain benefits on a pre-tax basis.
However, the underlying benefit plans that employees pay for through the cafeteria plan such as medical, dental, vision, or life insurance may have separate Form 5500 filing requirements under ERISA. For example, if an ERISA-covered group health plan has more than 100 participants on the first day of the plan year and is not fully insured, it may be required to file a Form 5500, regardless of whether employees are paying for the plan through a cafeteria plan.
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This article is for informational purposes only and is not intended as legal, tax, or benefits advice. Readers should not rely on this information for taking (or not taking) any action relating to employment, compliance, or benefits. Always consult with a qualified professional before making decisions based on this content.