A welfare report is required under the Employee Retirement Income Security Act of 1974 (ERISA), which has has extensive reporting and disclosure requirements for pension, profit-sharing, stock bonus plans, and most "welfare plans" (i.e., health care, life insurance, prepaid legal services, disability insurance).
Forms and documents must be filed with the Internal Revenue Service (IRS), the U.S. Department of Labor (DOL), and the Pension Benefit Guarantee Corporation (PBGC). Others go directly to plan participants. State law, which varies by state, also governs welfare plans, but ERISA usually overrides state laws.
