Why You Should Ask Our Company to Prepare Form 5500 on Your Behalf

If you have been looking for a top benefits consultant group to work with you on DOL Form 5500 preparation services, we are ready to work.

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Are you aware that Form 5500 was jointly developed by the Department of Labor, the Pension Benefit-Guaranty Corporation and the Internal Revenue Service to enable citizens conveniently fulfill the annual reporting obligations under Titles I and IV of ERISA as well as the IR (Internal Revenue) Code?

If you seek our services, we shall enable you understand that Form 5500 is a vital compliance, disclosure and research tool for the DOL (Department of Labor). We shall also help you understand that the form is an important disclosure tool for plan beneficiaries and participants as well as a valuable source of info and data for utilization by the private sector, other federal agencies and Congress in assessing the benefits, policies, tax obligations and economic trends of employees.

We take cognizance of the fact that Form 5500 prep is part of the general disclosure and reporting framework of ERISA, and is meant to give assurance that the operation and management of employee benefits plans complies with the prescribed standards, and participants, regulators as well as beneficiaries have access to, and are provided with enough information to safeguard the benefits and rights of beneficiaries as well as participants under the employee benefits plans.

Compliance with the electronic filing requirement

If you seek the services provided by our company, we’ll explain to you how you can comply with the electronic filing requirement, and why you should comply.

We are aware that since 1st January 2010, it was declared that completion and submission of Form 5500 Employee Benefit Plan Reports/ Annual Returns, Form 5500 SF Small-Employee Benefits Plan Reports/ Short-Form Annual Returns as well as other requisite attachments and schedules must be done electronically using third party software approved by EFAST2, and/or through IFILE.

We are also aware that specific 5500 EZ filers are allowed to electronically submit Form 5500 SF using EFAST2, instead of submitting hard copies to the IRS.

prepare form 5500


Our employees clearly understand everything that pertains to Form 5500, including all the schedules. Therefore, they’ll help you understand difficult concepts. If you come to us, you can be assured that your Form 5500 will be prepared by employees who are qualified, knowledgeable and experienced.

Our employees are familiar with the following; Schedule A (Insurance Information), Schedule C (Information on Service Provider), Schedule D (Participating Plan Information/ DFE), Schedule G (Financial Transactions) and Schedule H (Financial Information).

Additionally, our employees have knowledge of Schedule I (Financial Information for Small Plans), Schedule MB (Multi-Employer Defined Benefits Plan & Certain Money Purchase Schedule Actuarial Information), Schedule R (Retirement Plan Information) as well as Schedule SB (Single Employer Benefit-Plan Actuarial Information).

For these reasons, if you ask us to prepare the Form 5500 for you, you’ll be assured of getting value for money.

Dol Form 5500 Search

There are many reasons why you should hire us to take care of any problem that pertains to the preparation of Form 5500

We have the capacity to visit the Department of Labor’s website and conduct a Dol Form 5500 search to ascertain if your Form 5500 was received by EFAST2. We shall review the forms, attachments and schedules that you submitted to establish if everything was done correctly.

Do you know that if the documents you submitted are uploaded on the Department of Labor’s website, it doesn’t necessarily mean that the DOL (Department of Labor), Internal Revenue Service and Pension Benefit-Guaranty Corporation will automatically accept them? That’s why you should let us carry out a Dol Form 5500 Search on the DOL’s website to establish if you met all the requirements.

Why you should ask us to prepare your Form 5500 (employee benefit plan report/ annual return)

We shall prepare the Form 5500 on your behalf to report your financial condition, operations and investments. Why shall then advise you how to electronically file it via EFAST2 before the deadline (31st July for a 12 month plan).

When the government (through the three aforementioned departments) asked everyone to shift to the electronic filing system, and the departments made several changes to Form 5500, many didn’t know what to submit for plan years before the current year, and how to alter prior year filings. If you come to us for assistance, we shall enable you understand the right schedules as well as the right version of Form 5500 to use.

We shall enlighten you on why you should never, under any circumstances, electronically submit any form (such as Schedule SSA) that contains information about deferred or separated participants to the DOL (Department of Labor). We shall explain to you why such information ought to be separately submitted to the IRS.

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