The filings and follow-through that keep a retirement plan compliant — Form 5500, 8955-SSA, 5330, forfeitures, SECURE 2.0, and PBGC basics.
Form 5500 is due the last day of the seventh month after the plan year ends — July 31 for calendar-year plans — with an extension to October 15 available via Form 5558. Nearly all ERISA retirement plans file; small plans may qualify for the simplified 5500-SF.
Read the full answerForm 8955-SSA reports separated participants who still have vested benefits in the plan, so the Social Security Administration can later remind them. It's filed with the IRS on the Form 5500 schedule, and chronic non-filing is a common cleanup item in plan audits.
Read the full answerForm 5330 reports and pays excise taxes on prohibited transactions and certain plan failures — most commonly the tax on late deposits of employee 401(k) deferrals. If participant contributions weren't deposited timely, correction typically includes lost earnings plus a Form 5330 filing.
Read the full answerForfeitures — nonvested employer contributions left behind by departing employees — must be used as the plan document directs — typically to pay reasonable plan expenses, reduce future employer contributions, or be reallocated to participants, and generally within the year they arise or the following year.
Read the full answerThe Pension Benefit Guaranty Corporation insures private-sector defined benefit pensions, guaranteeing basic benefits if a plan fails. Covered single-employer DB plans pay annual per-participant flat-rate premiums plus variable-rate premiums on underfunding; 401(k) and other DC plans are not covered.
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