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Laura Taylor Nichole Bechard
October 09, 2017 Article 6 min read
Plan sponsors may not realize their welfare benefit plans can be subject to Form 5500 filing requirements. The lapse can cost you in stiff penalties. Here's our summary of filing requirements, common mistakes, and the fixes.

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Did you know your welfare benefit plan may be subject to Form 5500 filing requirements?

If you offer a welfare benefit plan, Form 5500 may apply to you. Most plan sponsors are aware of the annual Form 5500 reporting requirement for retirement plans, but fewer are aware of requirements for welfare benefit plans. Unfortunately, failure to file can lead to hefty fines.

In this article, our experts share insights about:

  • General ERISA Form 5500 filing requirements for welfare benefit plans 
  • How to properly count participants for welfare benefit plan Form 5500
  • Determining the number of welfare benefit plans and the number of Form 5500 filings you'll need (good news: with some planning, possibly only one)
  • Inadvertent failure to file the annual welfare benefit plan Form 5500
  • Common mistakes and misunderstandings – and their fixes

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