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info@mba-admin.com

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Important Reminder for Fringe Benefit Plans

Important Reminder For Fringe Benefit Plans

The Internal Revenue Service reminds employers that they no longer have to file an annual Form 5500 and Schedule F for so-called "pure fringe benefit plans.

  1. Employers who in the past filed Form 5500 and the Schedule F (Fringe Benefit Plan Annual Information Return), solely to meet the reporting requirements of Internal Revenue Code section 6039D ("fringe benefit plans"), should file neither Form 5500 nor Schedule F. In fact, the Schedule F has been eliminated and the Form 5500 has been modified so fringe benefit plan information cannot be reported.
  2. Fringe benefit plans are often associated with ERISA group health plans and other welfare benefit plans. The IRS announcement regarding fringe benefit plans does not cover these associated welfare plans. But, in many cases, a Form 5500 was not required for the welfare plan because it was exempt from filing a Form 5500 report under Department of Labor regulations. For example, fully insured or unfunded welfare plans covering fewer than 100 participants at the beginning of the plan year are eligible for a filing exemption. Unless exempt, however, ERISA welfare plans must still file in accordance with the Form 5500 instructions on welfare plan filing requirements.
  3. See IRS News Release No. IR 2003-89 and the Form 5500 instructions for more information.

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Release Date: 3/30/2015

DOl Issues Model Exchange Notification Guidance
Dept of Labor finalizes guidance on Exchange notification regulation
Release Date: 5/15/2013

Important Reminder for Fringe Benefit Plans
The Internal Revenue Service reminds employers that they no longer have to file an annual Form 5500 and Schedule F for so-called "pure fringe benefit plans.
Release Date: 6/28/2010

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MBA Administrators | PO Box 370 | Meridian, ID 83680
Phone  (208) 888-2626 | Fax (208) 887-1313 | Email info@mba-admin.com
 
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