Employee Benefit Plan Updates

SAS No. 119 Exposure Draft – Forming an Opinion and Reporting on Financial Statements of Employee Benefit Plans
April 27, 2017

The American Institute of Certified Public Accountants issued an exposure draft with proposed changes on the statement on auditing standards regarding forming an opinion and reporting on financial statements of employee benefit plans subject to the Employee Retirement Income Security Act of 1974. One aspect of the proposal includes a requirement to report findings from procedures performed on specific plan provisions.  READ MORE >

New 60-day waiver helps IRA, retirement plan rollovers
August 24, 2016

The Internal Revenue Service provided a self-certification procedure designed to help recipients of retirement plan distributions who inadvertently miss the 60-day time limit for properly rolling these amounts into another retirement plan or individual retirement arrangement (IRA).


Employee Benefit Plan Deadlines

For all calendar-year employee benefit plans, be sure to file by the following deadlines:
  • July 31 (calendar-year plans)
    • Form 5500 Annual Return/Report of Employee Benefit Plan
    • Form 5500-SF Short Form Annual Return/Report of Small Employee Benefit Plan
    • Form 5500-EZ Annual Return of One-Participant (Owners and Their Spouses) Retirement Plan
    • Form 5558 Extension Application for Extension of Time to File Certain Employee Plan Returns
  • October 15 (calendar-year plans)
    • Forms\ 5500 series (if Form 5558 filed)