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Premium Only Plans What makes them different from Full-Flex plans?


Guest Shelby

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Guest Shelby
Posted

I am looking for information on Premium only Plans. Unfortunately, most of the information posted is for FSAs or full flex plans. I also need information on how to report the POP.

Thanks!

Guest Jeffrey N
Posted

Exactly what type of information are you looking for on POP Plans. My company is a specialist in this area and can offer you some information.

  • 2 months later...
Guest Shelby
Posted

I would like to know how which information I need to fill out on the 5500 form for POP plans. Help!

Guest Jeffrey N
Posted

On April 4, 2002 the IRS Suspended the required filing for the form 5500 with schedule f as it pertains to a simple POP Plan. For more info go to www.irs.gov. Click the newsroom link then click the news releases link. Look for new release 2002-043.

Posted

Jeffrey, if you have a POP with more than 100 participants, does that automatically require 5500 reporting as a welfare plan?

John Cheek CPA

www.cpaSPAN.com

Guest Jeffrey N
Posted

This would be true, however the filing is a form 5500 with schedule A, this is the "welfare filing" not the "fringe filing". Basically, the POP plans filed under IRC 6039D which the IRS indicated "all specified fringe benefit plans" must file.

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