IRS Form 5500 Filing

[Guest Joe Vasko]

I know an FSA plan is not required to file IRS Form 5500, if less than 50 employees are paricipating in the Health Care Reimbursement portion of the Plan. What are the rules if more than 50 employees participate in the health insurance plan and their premium payments are withheld pre-tax through the FSA Plan? If required to file IRS Form 5500, what attachments are required? Any additional guidance on IRS Form 5500 for FSA plan would be appreciated.

Thanks,

Joe

[papogi]

There is no 5500 requirement for the cafeteria plan. If there are over 100 participants in the underlying plan, however, there is a 5500 requirement under ERISA for the underlying group health plan (unless they are a gov't or church plan). To clarify, you can't have premium payment withheld though the FSA plan. Those monies are being withheld pre-tax under the protection of Section 125. If fewer than 100 participate in the FSA portion of the plan, no 5500 is required for the FSA as a group health plan either as long as it is not considered funded.