What is the Deadline for Filing a Form 5500?

With it being the middle of July, many groups are in the middle of finishing up their Form 5500 filing.  If you are new to the 5500 world, you may be wondering about the deadline for filing a Form 5500.

Generally speaking, the deadline is the last day of the 7th month following the end of the plan year.  So if the plan year ends on December 31st, like many do, then the 5500 is due by July 31.  However, a group can receive an extension to this deadline.

There are several other questions that come from the subject of a Form 5500, such as who is required to complete the form?  Who do I call with questions?

Answers to these and other 5500 FAQs can be found on the document linked below.

Form 5500 Annual Return Report of Employee Benefit Plan

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Paying Premiums for Individual Health Insurance Policies

Under PPACA, how are premiums paid to employees for purchase of individual health insurance policies treated?  That is a question many employers are now facing.

Based on guidance from the IRS, money paid to employees for purchase of an individual health plan must now be on an after-tax basis.  Group coverage may still continue to be on a pre-tax basis.

The brief below also has information on HRAs and Cafeteria Plans.

Paying Premiums for Individual Health Insurance Policies

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Pay or Play Penalty—Dependent Coverage Requirement

On May 13, 2014, the Internal Revenue Service released FAQs addressing the consequences under the employer shared responsibility rules for applicable large employers that offer health insurance coverage to all full-time employees, but do not offer dependent coverage.

An ALE will not be subject to an employer shared responsibility penalty solely because one, some or all of the dependents of its full-time employees receive health insurance coverage through an Exchange and receive a subsidy. Whether or not one or more of its full-time employees’ dependents enrolls through an Exchange and receives a subsidy does not affect an employer’s liability.

This is especially important as some companies discuss the eligibility rules of their health plans.

More information can be found below.

Pay or Play Penalty – Dependent Coverage Requirement

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Live Well, Work Well – July 2014 Wellness Newsletter and Tips

Here is the July Live Well, Work Well wellness newsletter.  Really good information in here this month, especially when it comes to dealing with the summer months.

  • Being safe and efficient when planning a road trip;
  • Group B Strep Awareness;
  • Strength vs. endurance training;
  • Debt management;
  • An awesome Waldorf Salad recipe

Have a great and healthy July!

EBSG Live Well, Work Well – July 2014

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