All businesses that provide their employees’ health and welfare benefits packages are required to report information about those benefit plans annually. This information is filed with the Internal Revenue Service (IRS), the Department of Labor (DOL), and the Pension Benefit Guaranty Corporation (PBGC). They are submitted through a joint electronic system which then processes the information. The main form used for filing this information is the Form 5500, which is the Annual Return/Report of Employee Benefit Plan. Another form that can be included in the filing package is Form 5558, which is the Application for Extension of Time to File Certain Employee Plan Returns. Both of these forms have been updated this year…
