To unlock and create growth
Integrated solutions designed for enterprise-wide results. These offerings make the most of your investments in both technology and people.
Health Administration | Employer Solutions
To better wellbeing
Solutions to help employees and employers choose, use and manage their health benefits.
Wealth Administration | Employer Solutions
To build a future
Solutions to help employees and employers choose, use and manage their wealth benefits.
Payroll Administration | Employer Solutions
To keep spend in shape
Solutions to administer, optimize and scale your payroll.
Engagement and Communications | Employer Solutions
To spark interest
Solutions to create a more memorable employee experience.
HCM and Financial Management | Professional Services
To keep things running smoothly
Solutions to better manage your workforce from the cloud.
Finance is moving to the Cloud ...are you ready?
The Advantages for Health Saving Accounts (HSAs): Employees find balance between health and wealth
The Advantages fo Health Saving Accounts (HSAs): Employees find balance between health and wealth
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FEATURED CASE STUDIES
Curtiss-Wright: Increasing utilization and satisfaction with an integrated benefits platform
Pathway Vet Alliance: Thriving in the cloud with Alight and Workday
Do you offer an employer-sponsored health or retirement benefit plan? Then you need to file a Form 5500.
Form 5500, the Annual Return/Report of Employee Benefit Plan, is used to file an employee benefit plan’s annual information return with the Department of Labor. There are a few exceptions, but If your plan is subject to ERISA, you should be filing Form 5500 every year.
If you are required to file Form 5500, you’ll also need to prepare and distribute a Summary Annual Report (SAR), which summarizes your plan’s financial status and the information found in your Form 5500. Your SAR should summarize administrative expenses, benefits paid and plan assets.
If your plan has participants who have separated from service with a deferred vested benefit (generally for Defined Contribution and Defined Benefit Plans), you’re also required to file Form 8955-SSA.
Form 5500 is filed using the EFAST2 system and is due the last day of the seventh month after the plan year ends. For calendar-year plans, that’s July 31.
The Summary Annual Report is distributed by the plan administrator and is due nine months after the end of the plan or, if you received an extension on your Form 5500, two months after the extended due date.
Form 8955-SSA is filed using the FIRE system and is due on the last day of the seventh month following the end of the plan year, unless an extension is obtained. You can file Form 5558 via the mail for an extension (up to 2 ½ months).
The maximum penalties for failing to file Form 5500 can add up – up to $2,140 per day to the Department of Labor, and $25 per day (up to a maximum of $15,000) to the IRS.
Form 8955-SSA has its own penalty of $1 per day for each participant for whom the plan fails to file (up to $5,000 for any plan year).
The Delinquent Filer Voluntary Correction program (DFVC) allows plan administrators to pay reduced penalties for voluntarily filing prior to receiving an official failure to file notice from the Department of Labor. When submitting your Form 5500, be sure to check the DFVC program box to participate and use the online calculator to determine your reduced penalty.