Form 5500


Retirement Plans FAQs regarding Filing 2008 Form 5500

Whether you are an Employer or Employee you can see from this publication the 5500 form can be difficult, contact us at Lawrence & Pearson Associates to assist you with this filing.

  1. There is no Schedule B for 2008 on the EBSA web site. Where can I get a copy?

    The Schedule B has been replaced with the Schedule MB (for multiemployer and certain money purchase plans) and Schedule SB (for single employer and multiple-employer plans). Filers not using an approved software developer package must get copies of the new schedules from the IRS.

  2. There is no "handprint" copy of the Schedule MB or SB on the EBSA web site. Where can I get a copy?

    For the Schedule SB and MB, you must either go through an approved software developer or go to the IRS to get a copy of the Schedule SB or Schedule MB that can be completed by hand. These schedules will look different from the other handprint schedules. You may not use the information copy on the DOL, EFAST, or IRS web sites. Short plan year pension plan filers have until 90 days after the Schedule SB and Schedule MB were available (December 10, 2008) for filing. Pension plan filers required to complete an actuarial schedule must use either the Schedule MB or SB, as appropriate, to provide required actuarial information. In addition, pension plan filers are required to include new attachments to the Schedule R, as provided in the 2008 instructions.

  3. I heard that short plan year filers have a 90-day extension of time to file their Form 5500. Is that true?

    The extension of time is only available for short plan year filers who are required to file an actuarial schedule because those filers had to wait until the 2008 Schedule SB and MB and their instructions were available for filing, which was December 10, 2008. Filers who are required to file an actuarial schedule for Plan Year 2008 should not use the 2007 Form 5500 nor the 2007 schedules to meet the filing requirement. Please see the PY 2008 Form 5500 instructions.

What happened to Schedule P? Am I still required to complete Schedule P? How will the stature of limitations on the Form 5500/5500EZ be affected if the Schedule P is not filed?

In conjunction with the Department of Labor's July 21, 2006 Federal Register announcement mandating the electronic filing of the Form 5500, the IRS initiated certain other measures intended to reduce burdens and expenses on the filing. from,