5500sorBust

Thank you! Is this model language from the DOL, or is it a template created by a separate entity?

Is there standard wording or a template to follow to obtain the required written authorization to sign the 5500 filing on behalf of the plan sponsor/administrator?

One of the new items in the SAR model language is the following statement: “Your plan is a [insert a brief description of the plan based on the plan characteristic codes listed for the plan on the Form 5500, including whether it is a defined contribution or defined benefit plan, and whether the plan is a pooled employer plan, another type of multiple-employer plan or a single-employer plan].” How are you approaching this? Does this mean that we need to list out every individual 5500 characteristic code description (or some version of them) as part of this?

Is anyone familiar with guidance regarding the setup of a Master Trust Investment Account (MTIA)? One of my main questions is - should the plan sponsor's EIN be used on the DFE 5500 filing for the MTIA? And then, say the sponsor only has plans 001 & 002 (that will be investing in the MTIA), would the MTIA then assume plan number 003? It would appear so, according to the Form 5500 instructions, which seem to be the only source of instruction. If anyone is aware of specific MTIA guidance outside of the Form 5500 instructions in general, it would be much appreciated. Thanks!

Does this mean that any new plan will be a small filer the first year?

If a 401k PS Plan holds an Exchange-Traded Fund (ETF) that is registered with the SEC, should those assets be reported on line 1c(13)?

Is the SAR only required for 5500 & 5500-SF filers? Or is it required for a 5500-EZ filer as well?

As a follow up... I have reviewed CFR 2520.103–5, however there is no indication if this applies only for large plan filers or 5500-SF filers as well.

If I am a 5500-SF filer, and my plan invests in the Pooled Separate Accounts of an insurance company, is the insurance company required to provide my TPA with Schedule A information? I understand that I'm not filing a Schedule A as part of my 5500-SF, however, should the insurance company be providing full Schedule A information, or just information regarding commissions?

Thanks Lois! I did see that, however I am not tracking what changed with "the address where plan participants can request a fully copy of a Form 5500." It looks like maybe the bold part in the paragraph of the Summary Annual Report below is new? Thoughts anyone? Maybe someone has a copy of the previous model notice? You also have the legally protected right to examine the annual report at the main office of the plan (address), (at any other location where the report is available for examination), and at the U.S. Department of Labor in Washington, D.C., or to obtain a copy from the U.S. Department of Labor upon payment of copying costs. Requests to the Department should be addressed to: Public Disclosure Room, Room N-1513, Employee Benefits Security Administration, U.S. Department of Labor, 200 Constitution Avenue, N.W., Washington, D.C. 20210.

With the newly released Summary Annual Report model notice updates, were any changes actually made to the wording from the prior version?