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This document provides information required under ERISA for employee benefit plan insurance coverage, fees, and commissions.

How to fill out schedule a form 5500

How to fill out Schedule A (Form 5500)

1. Obtain Schedule A (Form 5500) from the IRS website or through a tax professional.
2. Fill in the basic information about the plan, including the plan sponsor's name and employer identification number (EIN).
3. Indicate the plan year and the number of participants enrolled in the plan.
4. Provide details on the insurance policies and contracts under the plan, including the name of the insurance company, policy numbers, and benefit types.
5. Report the premiums paid for each insurance contract during the plan year.
6. Review the completed schedule for accuracy and completeness, ensuring all required information is included.
7. Attach Schedule A to the Form 5500 and submit it to the Department of Labor, following the prescribed filing deadlines.

Who needs Schedule A (Form 5500)?

1. Employers who maintain employee benefit plans that include health insurance or other welfare benefits are required to file Schedule A (Form 5500).
2. This includes entities like corporations, partnerships, and sole proprietorships that offer such benefits to their employees.

People Also Ask about

What is schedule A on 5500?

This document contains the instructions for completing Schedule A of the Form 5500, which is used to report information concerning insurance contract coverage, fees, and commissions for employee benefit plans.

What type of return is a 5500?

Page 1 of 1 The 5500 series of tax forms are prepared by retirement plans. They report the business activity, investments, expenditures and earnings of the plan for the year.

What is a schedule 5500?

The employer maintaining the plan or the plan administrator of a Pension or Welfare benefit plan covered by ERISA. File Form 5500 to report information on the qualification of the plan, its financial condition, investments and the operations of the plan.

What is the difference between Schedule A and 5500?

Form 5500's “participant” count includes only participating employees and former employees, excluding spouses and dependents. Conversely, Schedule A's “covered persons” count includes everyone covered under the benefit, including spouses and dependents.

What's the difference between schedule A and schedule C?

Schedule As are typically provided by insurance carriers for insured benefits. Schedule C provides details on the fees associated with the plan and is typically only provided in the event the reportable fees exceed $5,000.

Is a Schedule A the same as a 5500?

Schedule As are typically provided by insurance carriers for insured benefits. Schedule C provides details on the fees associated with the plan and is typically only provided in the event the reportable fees exceed $5,000.

What is the difference between a schedule A and schedule C?

Most 401(k) plan sponsors are required to file an annual Form 5500, Annual Return/Report of Employee Benefit Plan. For an explanation of how to file your Form 5500 return, in addition to the EFAST electronic filing requirements, visit EFAST2 Filing.

For pdfFiller’s FAQs

What is Schedule A (Form 5500)?

Schedule A (Form 5500) is a reporting form used by employee benefit plans to provide information about the plan's insurance arrangements, including details about insurance contracts and the insurance company involved.

Who is required to file Schedule A (Form 5500)?

All employee benefit plans that utilize insurance contracts to provide benefits must file Schedule A as part of their annual Form 5500 submission, including both large and small plans.

How to fill out Schedule A (Form 5500)?

To fill out Schedule A, plan administrators must collect information regarding the insurance policies, including coverage types, policy numbers, and amounts of insurance. This information is then reported on the form as required by the IRS instructions for Schedule A.

What is the purpose of Schedule A (Form 5500)?

The purpose of Schedule A is to provide transparency and accountability regarding the insurance strategies being used by employee benefit plans, ensuring that both plan participants and regulators have insight into how benefits are funded.

What information must be reported on Schedule A (Form 5500)?

Schedule A must report information such as the type of insurance coverage, the name of the insurance company, the policy number, the amounts of insurance, and any significant details about the terms and conditions of the insurance contracts.