Annual Reporting and Disclosure

In line with the concurrently published modifications to Form 5500, the Annual Return/Report of pension plans (please see EventID 19904 in this context), the U.S. Department of Labor’s Employee Benefits Security Administration (EBSA), the Internal Revenue Service (IRS), and the Pension Benefit Guaranty Corp. (PBGC) have published in the Federal Register the revisions to corresponding reporting rules under the Employee Retirement Income Security Act of 1974 (ERISA). Specifically, the regulators are revising or inserting new rules
(1) as regards the general contents and application of the annual report (§ 2520.103-1) to expand the reporting requirements accordingly:
(2) to define the annual reporting requirement for defined contribution group (DCG) groups and the content thereof (5500 Form) in new § 2520.103-14. DCGs consist of employers that seek to file a single 5500 Form for multiple defined contribution plans, provided that the plans meet certain criteria such as the existence of common trustees or fiduciaries.
(3) to allow for an alternative method for compliance for DCGs with the annual reporting requirements (§ 2520.104-51) and set out the conditions for the application of the alternative.
(4) to include the requirement to file new schedule DCG for defined contribution groups (§ 2520.103-14 and § 2520.103-15).
(5) to require and define the filing of the „assets held for investments schedule“ for DCGs (§ 2520.103-10) and corresponding auditing requirements.
(6) to require the filing of new schedule MEP (Multiple-Employer Retirement Plan Information) for pooled pension plans by multiple employers within the same industry.
(7) to make other related amendments within the regulation.
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As the above summary only briefly describes the enclosed amendments, please refer to the original document for more detailed, comprehensive information.