Annual Report Form 5500 Law and Legal Definition
In the United States, a detailed report of membership and financial information pertaining to the operation of a pension plan is submitted in Form 5500 . This report must be filed annually with the Internal Revenue Service. 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 Series forms to satisfy annual reporting requirements under Title I and Title IV of ERISA and under the Internal Revenue Code.
The Form 5500 Series is an important compliance, research, and disclosure tool for the Department of Labor, a disclosure document for plan participants and beneficiaries, and a source of information and data for use by other Federal agencies, Congress, and the private sector in assessing employee benefit, tax, and economic trends and policies. The Form 5500 Series is part of ERISA's overall reporting and disclosure framework, which is intended to assure that employee benefit plans are operated and managed in accordance with certain prescribed standards and that participants and beneficiaries, as well as regulators, are provided or have access to sufficient information to protect the rights and benefits of participants and beneficiaries under employee benefit plans.
Legal Definition list
- Annual Receipts
- Annual Rate of Simple Interest
- Annual Percentage Yield
- Annual Percentage Rate
- Annual Payroll
- Annual Report Form 5500
- Annual Report on Advancing Freedom and Democracy
- Annual Reports
- Annual Statutory Financial Statement [Agriculture]
- Annualized Income Installment Method
- Annualized Medi-Cal Inpatient Paid Days
Related Legal Terms
- 1040 Form
- Absent Uniformed Services Voter
- Access to Classified Information (Military)
- Adequate Information
- Adoption and Foster Care Analysis and Reporting System (AFCARS)
- ADV Form
- After-Action Report
- Against the Form of the Statute
- Agricultural Research, Extension, and Education Reform Act of 1998
- Amendment of Information
