December 5, 2017

Informational 2017 Form 5500 Issued (article)

The Department of Labor (DOL), together with the Internal Revenue Service and Pension Benefit Guaranty Corporation, released advanced informational versions of the 2017 Form 5500 series.  As a reminder, plan administrators of welfare benefit and pension plans subject to ERISA, with certain exceptions, must file an annual return/report to the DOL on the Form 5500.


The 2017 information-only 5500 forms, schedules and instructions are available for viewing on the DOL’s website. The 2017 Form is substantially similar to the 2016 version, with a few updates contained in the instructions relating to:

  • The ability for service providers to sign electronic filings on behalf of the plan sponsor, the plan administrator, or the direct filing entity, where applicable;
  • Reflecting a change in the plan name, if applicable;
  • The increase in administrative penalties of up to $2,097 per day for a plan administrator who fails or refuses to file a complete or accurate Form 5500 report; and
  • Removal of optional IRS-specific questions about preparer information, trust information or retirement plan compliance.

The Form 5500s and appropriate schedules are to be completed and filed electronically via DOL's EFAST2 website (http://www.efast.dol.gov).  The Form, together with the relevant schedules, must be filed with the DOL’s Employee Benefit Security Administration (EBSA) as quickly as possible, but no later than the last day of the seventh month following the close of the plan year.


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. 

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