Form 5500 deadline is July 31 each year, and employers that are subject to the Employee Retirement Income Security Act of 1974 (ERISA) must electronically file an annual report (Form 5500) for each employee benefit plan they maintain unless a filing exemption applies. Employers with employee benefit plans that operate on a calendar year basis must file their annual reports for 2024 with the U.S. Department of Labor (DOL) by July 31, 2025.
An employer may extend this deadline by 2.5 months (until October 15, 2025) by filing Form 5558 with the IRS by July 31, 2025. Small welfare benefit plans (fewer than 100 covered participants) that are unfunded or fully insured (or a combination of unfunded and insured) are exempt from the Form 5500 filing requirement.
Employers that need extra time should file Form 5558 by July 31, 2025. As of January 1, 2025, Form 5558 can be filed electronically through DOL’s -EFAST2 or can be filed on paper with the IRS.
Voluntary Compliance — The Delinquent Filer Voluntary Compliance Program (DFVCP) was created by the DOL to encourage plan administrators to voluntarily file overdue Forms 5500.
The DFVCP gives delinquent plan administrators a way to avoid potentially higher penalty assessments by voluntarily completing their late Form 5500s for a year and paying reduced penalties.
Plan administrators are eligible to use the DFVCP only if they make the required filings prior to being notified in writing by the DOL of a failure to file a timely annual report. Employers with calendar year plans that do not qualify for a filing exemption should work with their service providers to electronically file the Form 5500 (including required schedules and attachments) using the DOL’s EFAST2 electronic filing system by July 31, 2025.
Kim Figurski is an HR consultant at The MBA. Contact her at 814/833-3200, 800/815-2660 or kfigurski@mbausa.org.
