Filing Your Return(s) and Paying Taxes

Filing Your Form 5500 or Form 5500-EZ

The Department of Labor, Internal Revenue Service, and the Pension Benefit Guaranty Corporation jointly developed the Form 5500 series so employee benefit plans could utilize the Form 5500 to satisfy annual reporting requirements under Title I and Title IV of ERISA and under the Internal Revenue Code.

Each year, pension and welfare benefit plans generally are required to file an annual return/report regarding their financial condition, investments, and operations. The annual reporting requirement is generally satisfied by filing the Form 5500, Annual Return/Report of Employee Benefit Plan or the Form 5500-EZ, Annual Return of One-Participant (Owners and Their spouses) Retirement Plan.

ERISA Filing Acceptance System (EFAST) is a system designed to simplify and expedite the receipt and processing of the Forms 5500/5500-EZ.  The Department of Labor, Internal Revenue Service and the Pension Benefit Guaranty Corporation created the EFAST system to streamline the forms and the methods by which they are filed and processed.

Under the computerized EFAST system, filers choose between machine print and hand print computer scannable forms to file the Forms 5500 and 5500-EZ.  Machine print forms are completed using computer software from EFAST approved vendors and can be filed electronically or by mail (including certain private delivery services).  Hand print forms may be completed by hand, typewriter or by using computer software from EFAST approved vendors.  In addition, filers wishing to use hand print forms must use the official government produced forms and schedules. 

Information concerning EFAST and approved software can be found on the U.S. Department of Labor web site or by calling the EFAST Help Line at 866-463-3278.

The hand print forms, schedules and instructions are available 24 hours a day, 7 days a week by calling 800-TAX-FORM (800-829-3676).

Form 5500 Filing Tips