Get the free Form 5500 Schedule C - Touchstone Investments

Form 5500 Schedule C You have requested certain information regarding the direct and indirect compensation received by Touchstone Advisors, Inc. (Touchstone Advisors) in 2015 relating to the investment

How to fill out form 5500 schedule c

How to Fill Out Form 5500 Schedule C:

1. Understand the purpose: Form 5500 Schedule C is used to report information about service providers who received compensation of $5,000 or more from a retirement plan covered by the Employee Retirement Income Security Act (ERISA).
2. Gather the necessary information: Before starting to fill out the form, ensure you have the required details such as the name and Employer Identification Number (EIN) of the plan sponsor, the names and addresses of the service providers, and the compensation received by each provider.
3. Provide general information: Begin by filling out the plan sponsor's name and address, along with their EIN. Include the name and telephone number of the person to contact regarding this form.
4. Complete Part I: In this section, you will need to provide information about the service provider(s). Include their business name, EIN, and address. Indicate if the provider is an individual, partnership, corporation, or other entity type.
5. Specify the type of service provided: Indicate the type of services rendered by the service provider, such as legal, accounting, actuarial, recordkeeping, or other services. If the provider is a trustee or fiduciary, select the appropriate option.
6. Report the compensation: For each service provider, report the total compensation received for the applicable plan year. Include the compensation for both direct and indirect services, and any reimbursements or payments from plan assets.
7. Provide a detailed description: In this section, describe the services provided by each service provider in more detail. Include any investment advisory, recordkeeping, or third-party administration services performed.
8. Keep supporting documentation: Retain and have available any supporting documentation related to compensated service providers for the plan covered by the form. This may include contracts, fee schedules, invoices, or other relevant documents.

Who Needs Form 5500 Schedule C:

1. Plan sponsors: Employers who have retirement plans covered by the Employee Retirement Income Security Act (ERISA) need to file Form 5500 Schedule C if they paid service providers $5,000 or more during the plan year.
2. Retirement plan administrators: Those responsible for administering the retirement plans, such as HR personnel, benefits managers, or third-party administrators, may need to complete and file Form 5500 Schedule C.
3. Service providers: Service providers who received compensation of $5,000 or more from a retirement plan covered by ERISA must report their information on Form 5500 Schedule C.
4. Department of Labor (DOL): The DOL uses Form 5500 Schedule C to ensure transparency and oversight of retirement plans, their service providers, and the fees paid to them. Consequently, complying with the reporting requirement is essential to fulfill regulatory obligations.

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