403b 5500

[Santo Gold]

a non-profit employer has over 200 employees and has about 80 individuals participating. It is a non-ERISA plan with only employee money in the plan. Do they have to file a 5500 since they have over 200 eligible employees?

Thanks

[Guest Form5500Guru™]

Under proposed changes released by the Department of Labor, 403(b) plans will be subject to the same Form 5500 filing requirements as 401(k) plans. While non-ERISA plans will not need to file a Form 5500, and many 403(b) plans of small employers (with fewer than 100 plan participants) will file an abbreviated Form 5500 for small employers, 403(b) plans of large employers subject to ERISA will have to file a complete Form 5500, including an independent audit report of the benefit plan. In many cases, however, the new Form 5500 may only require a limited scope audit of the plan. An ERISA audit will become a requirement in 2010 if a plan has 100-plus participants.