Are there civil penalties for failure to electronically file the plans Form 5500 or Form 5500-SF?
Yes. There are various penalties under ERISA and the Code that may be assessed or imposed for not meeting the annual return/report filing requirements as set forth in the statutes, implementing regulations, and instructions. Those penalties are described in the instructions for the Form 5500 and Form 5500-SF. Generally, whether the penalty is under ERISA or the Code, or both, depends upon the agency for which the information is required to be filed. One or more administrative penalties may be assessed or imposed in the event of incomplete filings or filings received after the due date.
Related Questions
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