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Mastering Form 5500 Schedule H: Avoiding Audit Triggers

Financial Information Reporting Requirements, Identifying Valuation Challenges and Expanded Compliance Questions

Note: CLE credit is not offered on this program

Recording of a 110-minute CPE video webinar with Q&A

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Conducted on Tuesday, May 17, 2022

Recorded event now available

or call 1-800-926-7926

This course will provide employee benefits professionals and tax advisers with a practical and comprehensive guide to completing Form 5500, specifically focusing on Schedule H, Financial Information. Our panel will offer specific guidance on completing the Schedule H including proper classification of items on the schedule, how to report the financial information properly, how to properly report the auditor’s opinion, how to properly understand and how to complete the compliance question section while focusing on red flags to the DOL and IRS. Our panel will also focus on recent changes made to Schedule H so professionals are aware of the potential pitfalls in preparing the schedule.


Schedule H of Form 5500 provides important plan financial and compliance detail to the IRS and DOL. Schedule H is generally required to be completed and attached to Form 5500 for plans that cover more than 100 participants. A completed Form 5500 Schedule H will appropriately report the financial position of the plan and communicate answers to a series of compliance questions.

Effective for plans with years ending after December 15, 2021, Statement on Auditing Standards 136 (SAS 136), Forming an Opinion and Reporting on Financial Statements of Employee Benefit Plans Subject to ERISA, makes changes to the independent qualified public accountant’s audit opinion, which changes how a preparer will fill out Part III of the Schedule H. Retirement plan professionals need to be aware of the recent changes made to the Form 5500 to properly complete it.

Listen as our experienced panel provides a thorough and practical guide to mastering Form 5500, with a specific emphasis on Schedule H, Financial Reporting for Employee Benefit Plans, as well as the impact of recent accounting changes to Form 5500 filing requirements.



  1. Key Schedules to Form 5500
  2. Recent changes to Form 5500 Schedule H
  3. Schedule H Plan Asset Valuations on Part I
  4. Income and Expenses Reporting on Part II
  5. Accountant's opinion as an audit trigger
  6. Compliance Questions


The panel will discuss these and other important issues and challenges:

  • How to properly classify and report financial information?
  • How do the DOL and IRS use this information and what might trigger communications from these agencies?
  • Challenges when completing Schedule H and how to overcome them.
  • What impact will SAS 136 have on completing the Form 5500 Schedule H?
  • Why the DOL and IRS are asking the compliance questions and how to properly complete this section?


Ciminera, Christopher
Christopher Ciminera, CPA, QKA

Principal, Accounting & Auditing
Belfint Lyons & Shuman

Mr. Ciminera is a member of the firm’s Employee Benefit Plan niche in the accounting and auditing services...  |  Read More

Fisher, Linda T.
Linda T. Fisher

Linda T. Fisher 5500 Consulting

Ms. Fisher has more than 25 years of employee benefits experience with advisory firms and corporations. Before starting...  |  Read More

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