Form 5500 Preparation Services
What is Form 5500?
Form 5500 contains information about an employee benefit plan subject to ERISA. Employers with 100 or more welfare benefit plan participants are required to file Form 5500 with the Department of Labor (DOL).
When Do I File?
Form 5500 is due by the last day of the seventh month after the plan year ends. For calendar year plans, it’s due by July 31st following the plan end date. Extensions are allowed under certain conditions provided by the DOL.
Why Should I File?
Late filing are subject to penalties from both DOL and IRS. The IRS penalty for late filing is $25 a day, up to a maximum of $15,000. The DOL penalty for late filing could be upwards of $1,100 per day, with no maximum.
The Benefits
Attorney Reviewed
5500Xpress has been reviewed and approved by industry leading employee benefits attorneys.
Validated for Errors
We detect inconsistencies in your data to ensure accuracy of Form 5500 and supporting documents.
E-filing Made Easy
E-Sign and submit forms to the DOL and easily manage corrections through our EFAST2 certified software.
Document Storage
Store all 5500 related documents in a single place for 7 years and enable easy access for future audits.
Step-by-Step Guidance
5500Xpress asks you simple questions about your benefit plans and fills Form 5500 behind the scene.
Import Past Filing
With just one click, you can import your previous year information and auto-fill answers in 5500Xpress.
Features & Pricing
Feature
$0per form
For beginner level users without variable hour employees.
- Easy step-by-step information collection
- Import previous year filing data to autofill fields
- Supports Wrap Plans
- Automatically determine Schedule A requirements
- Quickly generate Form 5500s & supporting documents
- Easy to read progress dashboard
- Simple one-click print and e-file
- Automatically generate Summary Annual Report (SAR)
- Ability to electronically sign Form 5500
- Ensure accuracy of employee counts used in Form 5500
- Store all 5500 compliance documents in one place
- Hand-holding to identify and gather required information
- Identify and fix inconsistencies in Data
- Help collect and analyze insurance carrier information
Self-Service
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Full-Service
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