5500 Filing Reminder
Form 5500 filing season is around the corner. It’s time to think about completing and filing Form 5500s. Employers who had a Welfare Benefit Plan with 100 or more participants are required to file for the plan year. The Deadline for Form 5500 is due on or before July 31, 2016. Employers required to file a Form 5500 and fail to comply with its requirements are subject to enormous potential fines and other liabilities. The Department of Labor (DOL) can impose fines as high as $1,000 per day for incompleted or deliquent filings.