An important deadline fast approaches for many plans—the Form 5500 is due to be filed by July 31.
Plan sponsors of calendar-year plans must file their Form 5500 series returns by the last day of the seventh month after the plan year ends, which for calendar year plans is July 31 of the year after the end of the previous plan year. So plan sponsors of calendar-year plans must file by July 31, 2022 concerning the 2021 plan year.
The form is to be filed electronically through the Department of Labor’s EFAST2 system.
One-participant plans that (1) are not subject to ERISA and that are not eligible or (2) choose not to file Form 5500-SF, Short Form Annual Return/Report of Small Employee Benefit Plan are to file the Form 5500-EZ. They are to do so either through EFAST2 or on paper with the IRS.
An extension of the filing date is possible if one files a Form 5558.
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