5500 for a PEP

First time filing for a PEP.  Small plan filer.

Am I right that they can't use a 5500-SF and have to use 5500 w/ Schedule I?  And all we need to do is provide the same attachment as a MEP, with listing the companies and the contribution percentages?

And mark 5500 as Multiple Employer Plan?

Hi Austin - I found this with a Google search:

"Annual Audit, Form 5500 Filing Requirements
The DOL issued changes to Form 5500 in December 2021, including an instruction that PEPs must check the MEP box in Part A of Form 5500. Participating employers with 100 or more participants in the PEP will need to provide a qualified independent accountant’s report (often called a “plan audit”) for their portion of the PEP, which must be attached to the PEP’s Form 5500.

PEPs are required to undergo an annual audit unless they satisfy the exemption rule. No annual audit is needed if each participating employer has 100 or fewer participants and there are fewer than 1,000 total participants in the plan.

The new rules require PEPs to confirm compliance with the Pooled Plan Provider Registration Form (Form PR) requirements. PEPs must also provide the AckID number for its latest Form PR filing, and PEPs with more than 100 employees must file a Form 5500 (they cannot file a Form 5500-SF)."

I would think if you are marking the "MEP" box then you would need to do the attachment with the Companies and contributions.

Any idea what the Business Code needs to be?  I have 5 very different businesses int he plan.  Do I use the business code for the sponsoring entity, ie, my company?  (My company does, indeed, sponsor the PEP.)

It is my understanding that a PEP can not use a Form 5500-SF, but a "Closed MEP" (all firms have a "common nexus") can use the SF if under 100/120 lives rule.  PEPs must use the "Full 5500" regardless of participant count, but may be exempt from the Accountant's Opinion based upon the count of covered employees (see Pmacduff Post).  For Business Code I would suggest that you use the Code for the primary sponsoring entity of the program.