Does anyone copy the state when filing 5500's?

[RayJJohnsonJr]

Does anyone copy the state when filing 5500's? A CPA insists it is required. We have never copied the Plan's state income tax division on a 5500. Does anyone else do that?

Thanx,

Rene

[QDROphile]

I am sure that the CPA who insists that you file will be willing to specify the state law source of the requirement.

[E as in ERISA]

It's done for Form 990s, which is the filing for an exempt organization. Maybe some states rules are broad enough to appear to cover filings for the trusts of benefit plans. But 5500s are for the plan, not the entity. The Schedule P is the exempt organization filing in this case.

[Ron Snyder]

The 5500 is for an ERISA plan. ERISA pre-empts state laws relative to employee benefit plans. It is therefore not likely that any state has cleverly fashioned a law that requires ERISA plans to comply with reporting an disclosure requirements.

I note that with respect to form 990, the reason for its having to be filed with a state (California has its on form in lieu of 990) is because it is a return for a tax-exempt entity that seeks to be exempt from state as well as federal income taxes.

[RayJJohnsonJr]

Thank you all for your valuable input

Rene