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5500 Filing


Guest Joe Vasko

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Guest Joe Vasko

I'm I correct in assuming that if an employer who sponsors a Section 125 Plan with over a 100 participants is still required to file Form 5500 & Schedule F?

Thanks, Joe

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Papogi:

Can you please help me find where "schools" also fall under the exempt area of 5500's? I know I have seen this before, but my search is coming up empty...I could have sworn that I bookmarked it too! As always - thanks for your help.

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MSMA, I will be on vacation for the next few days, so I can't look into this for you right now, and, like you, I don't have this immediately available. Hopefully someone else can chime in. If nobody does, I'll check into this upon my return...

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Guest Joe Vasko

In researching this issue further, I seem to find conflicting responses to filing Form 5500. It appears that Cafeteria Plans with FSA's over 100 participants in the unreimbursed medial account at the beginning of the year still need to file Form 5500. Am I missing something?

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Joe Vasko, check out page 10 of this IRS release. There are no filing requirements for the 125 plan for the IRS. There may be for the underlying health/welfare plans under ERISA. An FSA is a health/welfare plan under ERISA, so an FSA with more than 100 participants will need a 5500 filed to satisfy ERISA. The Cafeteria Plan itself has no filing responsibility.

http://www.irs.gov/pub/irs-utl/sprsum02.pdf

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Papogi -

Looks like you're back...hope your travels went well.

When you are settled, I would still appreciate your assistance with my query regarding schools.

JM

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MSMA, the term ''governmental plan'' means (quoted): a plan established or maintained for its employees by the Government of the United States, by the government of any State or political subdivision thereof, or by any agency or instrumentality of any of the foregoing. The term ''governmental plan'' also includes any plan to which the Railroad Retirement Act of 1935, or 1937 (45 U.S.C. 231 et seq.) applies, and which is financed by contributions required under that Act and any plan of an international organization which is exempt from taxation under the provisions of the International Organizations Immunities Act (22 U.S.C. 288 et seq.).

These advisory opinions issued by the DOL support the stance that schools, in general, are given "governmental plan" status.

http://www.dol.gov/pwba/programs/ori/advis...ry95/95-15a.htm

http://www.dol.gov/pwba/programs/ori/advis...ry92/92-10a.htm

And it’s fine if a very small number of covered employees are from the private sector:

http://www.dol.gov/pwba/programs/ori/advis...ry99/99-15a.htm

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