For employers sponsoring group health plans, an important compliance deadline is quickly approaching. The annual Form 5500 filing is due soon for calendar-year plans, making now the time to confirm whether your plan is required to file and ensure all necessary information is in order.
What Is Form 5500?
Form 5500 is an annual reporting requirement under ERISA that provides information about an employee benefit plan’s operations, funding, participation, and compliance. The filing is used by the Department of Labor (DOL), IRS, and other federal agencies to monitor benefit plans and protect participants’ rights.
Because Form 5500 filings are generally available to the public, they also promote transparency and accountability in plan administration.
Who Must File?
For group health plans, Form 5500 is generally required when the plan had 100 or more participants on the first day of the plan year.
This requirement may apply to:
- Fully insured health plans
- Self-funded health plans
- Level-funded health plans
Many small health plans with fewer than 100 participants are exempt, although certain exceptions and special rules may apply.
When Is the Deadline?
For calendar-year plans, the 2025 Form 5500 filing is due July 31, 2026.
Employers that need additional time can request an extension by filing Form 5558 before the original due date. The extension provides up to an additional 2½ months, moving the filing deadline to October 15, 2026.
Why Timely Filing Matters
Missing the Form 5500 deadline can result in significant penalties and increased regulatory scrutiny. The DOL considers timely and accurate filing an important indicator of proper plan administration.
If a filing is missed, employers may be eligible to correct the issue through the DOL’s Delinquent Filer Voluntary Compliance Program (DFVCP), which can help reduce potential penalties.
Filing Is Electronic
Form 5500 filings must be submitted electronically through the DOL’s EFAST2 system.
While employers often rely on brokers, consultants, third-party administrators, payroll providers, or ERISA counsel to assist with the process, the plan administrator remains ultimately responsible for ensuring the filing is complete, accurate, and submitted on time.
Action Steps for Employers
As the deadline approaches, employers should:
- Confirm whether the plan is required to file based on participant counts at the beginning of the plan year.
- Determine whether the plan should file Form 5500 or Form 5500-SF.
- Gather necessary information, including insurance carrier data, Schedule A information, plan numbers, EINs, and prior-year filings.
- Coordinate with service providers to confirm responsibilities for preparation, review, electronic signature, and submission.
- File Form 5558 before July 31 if additional time is needed.
- Retain copies of the completed filing and submission confirmation for your records.
Form 5500 filing is a critical part of ERISA compliance and should not be overlooked. Employers should never assume that a carrier, TPA, or advisor has completed the filing unless responsibility has been clearly assigned and confirmed.
Taking a few proactive steps now can help avoid penalties, ensure compliance, and keep your employee benefits program running smoothly.