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Form 5500: They want MORE!
Presentor: Derrin Watson Recorded Date: 9/14/2016 Duration: 100 Min.

This program was recorded during a live presentation given on September 14, 2016 at 12:00PM EST.

Every 10 years the DOL overhauls Form 5500. The last refurbishment was in 2009, and gave us mandatory electronic filing and a greatly revised Schedule C.

The DOL and IRS have proposed major new revisions to Forms 5500 and 5500-SF to go into effect for 2019, and they are much more involved than in 2009. Some schedules will vanish. Two new schedules will be added. And many new questions will appear. It will truly be a whole new Form, with some of the questions possibly affecting employer choices on plan design and plan investments. This program will preview the new form and what it means for you. Topics include:

  • Effective date
  • New schedule for group health plans
    • Elimination of filing exemption for group health plans
  • Small 5500 filers would need to file Schedule H
  • Change in audit standards to disregard participants without account balances
  • Complete revision of Schedule C (again!)
  • Elimination of part 1 of Schedule D
  • Major revisions to asset schedules
  • New questions coming in 2016
  • New questions coming in 2019
  • New style of questions
  • Redesign to facilitate data mining
  • Electronic filing of Form 5558 extension requests

There are no prerequisites or other advanced preparation for this program. The speaker will assume attendees are familiar with preparing form 5500 under current law. A minimum of one year of experience is recommend.

Level: Intermediate

Instructional Delivery Method: Group – Internet-Based

NASBA Field of Study: Taxes

Speaker: S. Derrin Watson, J.D.
Recipient of ASPPA's 2006 Educator of the Year Award

Objectives: After attending this Web seminar, an attendee should be able to:

  • List the major changes to 5500 schedules
  • List the questions expected to come on next year’s form
  • Explain the options for coming IRS-only questions
  • Identify future questions which may cause a concern for individual plans


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