5500 for non-erisa?

[Guest rjorge3]

I just inherited a small plan, non-for profit Co, with EE only contribution. The plan was established 5 years ago and currently has 50 actively participants (out of 90 Employees) and roughly $200k of plan assets (again, all EE contributions). It is my understanding that it was never required for a small, non-erisa plans to file a 5500 (nothing was filed in the past), but with the new laws, will they have to complete the 5500 going forward? As far as I know, they dont have to, but the more I read about the new changes, the more confused I get.

[K2retire]

What is it about this plan that makes you think it is a non-ERISA plan?

[J Simmons]

Is it a 403b plan?

[Guest B2Randolph]

If truly a non-ERISA tax exempt 501©(3) tax sheltered annuity (TSA) plan, then no 5500s are due now or ever. In order to meet that criteria, it must have been and always have been a plan which only receives salary reduction contributions under 402(g) and never have had any employer involvement.

What that generally means is that the Employer was simply a conduit for the contributions to be made - in other words, did nothing more that offer the employee a payroll slot.

If however, the employer was actively involved making decisions and approving things, like distributions or ever made an employer contribution, then the plan would be an ERISA covered plan requiring limited reporting Form 5500s.