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ERISA Form 5500 is an annual report required to be filed by employee benefit plans with the Department of Labor (DOL), providing information on the financial condition, investments, operations, and compliance of the plan.
Generally, all employee benefit plans subject to the Employee Retirement Income Security Act of 1974 (ERISA) are required to file Form 5500 with the Department of Labor.
ERISA Form 5500 can be filled out electronically using the EFAST2 filing system provided by the Department of Labor, or through third-party software that is approved for filing.
The purpose of ERISA Form 5500 is to ensure transparency and accountability in the administration of employee benefit plans, by providing regulators, participants, and beneficiaries with important information about the plan.
ERISA Form 5500 requires reporting on the financial condition of the plan, investments, operations, funding levels, participant and beneficiary information, as well as compliance with ERISA and other relevant laws.
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