Get the free Form 5500 Schedule C - Vanguard Institutional

Form 5500 Schedule C Eligible indirect compensation disclosure guides guide is being provided to assist plan administrators (usually the plan sponsor) in completing Form 5500 Schedule C (Service Provider

How to fill out form 5500 schedule c

How to fill out form 5500 schedule c

1. To fill out Form 5500 Schedule C, follow these steps: 1. Start by providing your business or organization's name, address, and Employer Identification Number (EIN) at the top of the form.
2. Enter the plan or policy number, plan sponsor's name, and address.
3. Indicate the type of code to describe the nature of the plan sponsor's business or organization.
4. Provide the plan year beginning and ending dates.
5. Report any changes in plan name or number, plan sponsor/sponsor's business name or address, or policy name during the plan year.
6. Complete Part I by providing the total number of participants at the beginning and end of the plan year.
7. Fill out Part II if there are any MRAs (Multiple-Employer Plans) involved.
8. Complete Part III if there are any PEOs (Professional Employer Organizations) involved.
9. Provide the applicable financial charges, fees, commissions, or expenses for investments and transactions in Part IV.
10. Report any compensation or fees paid to certain service providers or must be paid during the plan year in Part V.
11. Complete Part VI if there are any direct or indirect compensation paid by investments or transactions from the plan.
12. Sign and date the form, and include the preparer's information if applicable.
13. Review the completed form for accuracy and ensure all necessary attachments are included.
14. Submit the filled-out Form 5500 Schedule C to the appropriate government agencies as instructed.

Who needs form 5500 schedule c?

1. Form 5500 Schedule C is required for employers who sponsor employee benefit plans subject to the Employee Retirement Income Security Act of 1974 (ERISA).
2. This form is for reporting service provider information and fees paid for services rendered to the plan.
3. Any employer with a plan that meets the criteria set by the Department of Labor must file Form 5500 Schedule C.
4. It is also required for multiple employer plans (MEPs) and professional employer organizations (PEOs) that manage employee benefit plans for their client employers.

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What is form 5500 schedule c?

Form 5500 schedule c is a form required to be filed by employee benefit plans to report information about service providers and their fees.

Who is required to file form 5500 schedule c?

Employee benefit plans with a service provider who received $5,000 or more in compensation during the plan year are required to file form 5500 schedule c.

How to fill out form 5500 schedule c?

Form 5500 schedule c can be filled out online or through electronic filing systems provided by the Department of Labor.

What is the purpose of form 5500 schedule c?

The purpose of form 5500 schedule c is to provide transparency and accountability regarding the fees paid to service providers by employee benefit plans.

What information must be reported on form 5500 schedule c?

Information such as the name and address of service providers, the type of services provided, and the amount of compensation received must be reported on form 5500 schedule c.