Welfare Plan Form 5500 Compliance |Consulting | Preparation

Our partnership service includes:

Expert review of prior Form 5500 filing(s) and related attachments
Streamlining the collection of all necessary data and related Schedules
Preparation of current, delinquent and/or amended Form 5500 filings, including applicable attachments
Provide electronic filing services under the ERISA Filing Acceptance System 2 (EFAST2)
Offer the option of EFAST2 Pin Relief, which eliminates the need for a Plan Admin/Plan Sponsor signatory
Automatic filing of Form 5558 2-1/2 month extension; when necessary
Preparation of Summary Annual Report (SAR); including distribution requirements
Ongoing review and analysis of any changes in IRS, DOL and ERISA rules and regulations
Timely and accurate assistance with all IRS and DOL inquiries concerning your Form 5500's
Annual Compliance updates (when applicable)

Section 125 Nondiscrimation Testing

Because Code Section 125 cafeteria plans (and the component benefits within the 125 plan) enjoy favorable tax treatment, the Code's nondiscrimination rules exist to prevent plans from being designed in such way that it discriminates in favor of individuals who are either highly compensated employees (HCE) or are otherwise key employees (KEY) in the organization.

Tests Conducted

The Section 125 Cafeteria Plan

Eligibility Test
Contributions and Benefits Test
Key Employee Concentration Test (utilization

Health FSAs

Eligibility Test
Benefits Test

Dependent Care FSA (DCAP)

Eligibility Test
Contributions and Benefits Test
More-Than-5% Owners Concentration Test (utilization)
55% Average Benefits Test (utilization)