Copy of 5500

[Just Me]

The SPD says that the participant has a right to request a copy of the lastest annual report (Form 5500), as required by ERISA. So what do we provide the participant when he asks where we have filed it electonically?

[ESOP Guy]

You should have a hard copy any way. So you can get a copy from the DOL website, or Freeerisa.com.

You can search for any 5500 at this link. You are most likely to find yours quickly if you use EIN.

All 5500s are now public with this website. Print a copy for yourself every year is my advise after you file.

https://www.efast.dol.gov/portal/app/dissem...?execution=e2s1

[GMK]

Sorry for being dense, but why can't you simply print out a paper copy of your electronically filed copy and give the participant the printed copy?

[ESOP Guy]

That was what I was trying to imply when I said they should have a copy. You were just more direct.

[GMK]

ESOP Guy - My question was not directed to you. Your reply gives very useful information. In fact, I would strongly recommend having a paper copy of 5500's on file, even if everything is filed electronically, but that's just me.

My concern is more general, where people disregard the need to be able to retrieve electronically filed documents. Short term it can usually be done. Over the years, however, with the continuous "improvements" in software, retrieval becomes a bigger issue, and one that cannot be ignored.

Just Me - Providing a printed copy of your electronically filed 5500 will satisfy the requirements in all cases. Providing an electronic file that the participant is fully able to display and print on her/his own also works.

[Bill Presson]

In our instructions to our employer clients, we reminded them that they are REQUIRED to print a copy of the 5500 and sign it for their files.

That would be the paper version that they would copy for distribution, if needed.

[Guest IluvNewComp]

From the instructions for the SF:

Even though the Form 5500-SF must be filed electronically, the plan administrator must keep a copy of the Form 5500-SF, including schedules and attachments, with all required signatures on file as part of the plan's records...Filers may use electronic media for record maintenance and retention, so long as they meet the applicable requirements.

(emphases mine)

So, in one form or another, you must have a signed copy for your records, and, thus, be able to copy it for participants' requests.