Labor Department and IRS Announce Joint ERISA Form 5500 Filing Project: Its Effect on the Delinquent Filer Volunteer Complance Program

The Department of Labor’s Pension and Welfare Benefits Administration and the Internal Revenue Service are undertaking a joint project to ensure that all employee benefit plans have complied with ERISA and IRS obligations to file Form 5500. ERISA requires most private-sector employee benefit plans to file a Form 5500 annually. Although detection of noncompliance with Form 5500 filing requirements by the DOL or the IRS was always possible, the risk of detection may substantially increase with the DOL and the IRS working jointly.

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