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Annual Form 5500s Due Date Fast Approaching for Plan Years Ending December 31, 2022

Some clients may have started receiving Schedule A information from their insurance carriers for their plans or policies that renewed on January 1, 2023.

The Employee Retirement Income Security Act (ERISA) requires an annual report to be filed with the Department of Labor (DOL) on certain information related to an employer’s sponsored health and welfare plan(s) known as the Form 5500. Generally, plans that are required to file the Form 5500 fall into the following categories:

  • Plans that covered 100 or more participants on the first day of the ERISA plan year. Retirees and COBRA participants would be included;
  • Plans that are “funded,” such as through a trust; and
  • Plans sponsored by a Multiple Employer Welfare Arrangement (MEWA).

Form 5500s for health and welfare plans are due by the end of the seventh month following the end of the ERISA plan year. For plans that have a plan year ending on December 31, 2022, the filings are due by July 31, 2023. An extension of an additional two-and-a-half-month is available if plan sponsors cannot meet the applicable deadline by filing Form 5558, with a postmark by July 31, 2023.

If you have any questions regarding Form 5500 filings, please reach out to your OneDigital Consultant.