If you sponsored a multiple employer welfare arrangement (MEWA) in 2016, make certain that you file the Form M-1 annual report by March 1, 2017. The 2016 Form M-1 has been updated with a few clarifications from the 2015 form. Specifically, Form M-1 filers are required to include custodial and financial information relating to the MEWA. In addition, there are stricter 30-day filing deadlines for MEWA registration, as well as the requirement to report certain changes either 30 days prior to or within 30 days of the change. The form also notes the increased in penalties of up to $1,502 per day for failure or refusal to file a completed or accurate Form M-1.
As a reminder, the Form M-1 can only be submitted electronically through the DOL’s Online Filing System (http://www.askebsa.dol.gov/mewa). In addition, all welfare benefit plans required to file a Form M-1 are required to file the Form 5500 regardless of the plan size or type of funding.
The information contained in this article is provided as general guidance and may be affected by changes in law or regulation. This article is not intended to replace or substitute for accounting or other professional advice. Please consult a CBIZ professional. This information is provided as-is with no warranties of any kind. CBIZ shall not be liable for any damages whatsoever in connection with its use and assumes no obligation to inform the reader of any changes in laws or other factors that could affect the information contained herein.