WRAP plan - Form 5500 Filing

[Guest SVA Retirement Plan Svc.]

I found a q&a on this topic but is dated July 2005. Can someone confirm that this is still how one would do the 5500's for Welfare Plans that are going to be "warpped" into one document and therefore one Form 5500 for the next plan year.

Mark the returns for the un-wrapped welfare benefit plans as the Final filing and indicate that the plan has 0 particpants ar the end of the plan year. Then the next year mark the 5500 as a "first return" for the wrapped plan using a new plan number.

Please share your expierence or any suggestions for reference material to confirm this.

Thanks!

[J Simmons]

I found a q&a on this topic but is dated July 2005. Can someone confirm that this is still how one would do the 5500's for Welfare Plans that are going to be "warpped" into one document and therefore one Form 5500 for the next plan year.

Mark the returns for the un-wrapped welfare benefit plans as the Final filing and indicate that the plan has 0 particpants ar the end of the plan year. Then the next year mark the 5500 as a "first return" for the wrapped plan using a new plan number.

Please share your expierence or any suggestions for reference material to confirm this.

Thanks!

Make sure you have a document terminating the old plans, specifying their 3-digit numbers, and that you the termination is authoritatively signed no later than the last day of the last plan year for which you are filing a Form 5500 (albeit the "final" one) for them. The f5500 is a reflection of a plan, just signifying on the f5500 for a plan year that it is the last f5500 does not effectively terminate the plan, nor foreclose employee's claims for benefits under that old plan. Also, you need to give the employees a summary of material modifications timely notifying them that the old plans are being terminated.

As for how you propose filing the f5500s, I think that is the appropriate approach.