Must an employer file a Form 5500 and Schedule F for an FSA Plan?
Effective immediately, the Internal Revenue Service has indefinitely suspended the requirement to file Schedule F (Form 5500) “Fringe Benefit Plan Annual Information Return” for Small Employer (less than 100 participants), Church, and Public Sector plans. The suspension of Schedule F filing applies to ALL plan years, including years prior to 2001. Though a plan may still be required to file the Form 5500 (but no Schedule F) if they segregate participants’ contributions from the employer’s general assets. Separately maintained funds for a Health FSA would require filing the Form 5500.
