5500 for a 457?

[Guest]

Is school district's 457 plan for administrators (the teachers are part of a state retirement plan)required to file an annual 5500?

[Everett Moreland]

IRS Notice 2000-38:

"A trust described in section 457(g) is not required to file Form 990, Return of Organization Exempt From Income Tax, Form 1041, U.S. Income Tax Return for Estates and trusts, Form 1120, U.S. Corporation Income Tax Return, or Form 5500, Annual Return/Report of Employee Benefits Plans.

See, for example, Rev. Proc. 95-48, 1995-2 C.B. 418, which provides that governmental units and affiliates of governmental units that are exempt from federal income tax under section 501(a) are not required to file annual information returns on Form 990, Return of Organization Exempt From Income Tax. A trust described in section 457(g) may be required to file Form 990-T, Exempt Organization Business Income Tax Return. See sections 1.6012-2(e) and 1.6012-3(a)(5) for the requirements for filing Form 990-T."