Form 5500 Changes for 2019 Plan Year: New Financial Reporting and Small Plan Filing Requirements

New Schedule J Health Plan Certification, Expansion of Schedule H Reporting of Plan Assets and Liabilities, Schedule C Changes

This program has been cancelled

A live 110-minute CPE webinar with interactive Q&A


Wednesday, January 30, 2019 (in 6 days)

1:00pm-2:50pm EST, 10:00am-11:50am PST


This webinar will provide pension and welfare plan administrators and their advisers with a thorough and practical guide to meeting the new Form 5500 Schedule C filing requirements for smaller plans. The panel will also detail the proposed changes in Form 5500 reporting for the 2019 filing years. Using practical scenarios, the panel will provide guidance on making accurate recommendations on what to report—and how.

Description

Regulations previously proposed to go into effect for 2019 plan reporting broaden requirements for benefit plan sponsors and will present new compliance challenges for specific employer plans. The rules increase the number of plans required to file Form 5500 and mandates that plan sponsors certify under penalty of perjury that the plan conforms to a list of federal laws.

The regulations eliminate the previous exemption from Form 5500 filing requirements for small insured and self-funded employee benefit plans. Beginning with the 2019 plan year, employers must file a separate Schedule C for each covered service provider who receives $1,000 or more in direct or indirect compensation. Plan sponsors must also disclose any other person who receives $5,000 or more in direct compensation from the plan. This creates a potentially significant burden for smaller plans.

The proposed regulations also create a new Schedule J, which requires plan sponsors to certify under penalty of perjury that the coverage provided by their group plans complies with a broad list of federal mandates. Additionally, the new rules increase the scope of financial reporting related to plan assets and liabilities. Taken as a whole, the regulations impose a burdensome increase in employee benefit plan reporting duties.

Listen as our authoritative panel guides pension and welfare plan administrators and their advisers to prepare for the new Form 5500 Schedule C filing requirements for smaller plans. The panel will detail the proposed changes in Form 5500 reporting for the 2019 filing years and provide practical approaches for what—and how—to report.

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Outline

  1. Scope and purpose of proposed regulations
  2. Elimination of exemption from Form 5500 filing for small and self-funded plans
  3. Changes to Schedule H reporting of plan assets and liabilities
  4. New Schedule J
  5. Preparing for new reporting requirements

Benefits

The panel will discuss these and other relevant topics:

  • How to accurately report eligible indirect compensation on the new Schedule C
  • What plans are impacted by the elimination of the Form 5500 filing requirement for small and self-funded plans
  • Critical steps in certifying that health plans are compliant with listed federal laws and guidelines
  • How the new regulations expand the reporting of plan assets, liabilities and fees

Faculty

George, Tabatha
Tabatha L. George

Atty
Fisher Phillips

Ms. George specializes in employee benefits, including retirement and welfare plans and healthcare reform. She has...  |  Read More

Taylor, Laura
Laura Taylor
Senior Manager
Plante & Moran

Ms. Taylor is the firm-wide technical leader for reporting and compliance issues related to qualified retirement and...  |  Read More

Additional faculty
to be announced.