filing requirement for a welfare plan

[betheeg]

I received a call from a client regarding a welfare plan that has never filed a 5500. The effective date of the plan is approx 12-15 years ago. The plan has approx 300 participants, and it offers group life and STD. It is fully insured with the premiums being paid 100% by the employee with after tax dollars.

First, any recommendations as to what to do about the years not filed? Second, what are the filing requirements? A 5500 with what schedules? and an audit report?

Any help is much appreciated.

[WDIK]

First, any recommendations as to what to do about the years not filed?

Delinquent Filer Voluntary Compliance Program

Second, what are the filing requirements?  A 5500 with what schedules? and an audit report?

See pages 12 and 13 of the 2004 Form 5500 instructions for a good summary.

[Guest b2kates]

I agree that this is a situation calling out for a delinquent filer voluntary compliance filing.

Generally no audit when a plan is fully insured. The audit requirement arises when the plan has assets held for investment; like a retirment plan.

Usually the filing is only the 5500 and the related Schedule As for each of the insurers.