Federal Agencies Plan Amendments to Form 5500 Employee benefit plans would face new reporting requirements under extensive changes to Form 5500, Annual Return/Report of Employee Benefit Plan, proposed by the federal government last month. The federal agencies are also proposing to require all group health plans to file Form 5500 along with a new Schedule J. Sally P. Schreiber, Tax Adviser senior editor, explains. To read the full article in The Tax Adviser, click: Agencies Propose Amendments to Employee Benefit Plan Reporting.
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Three Pointers for Choosing a Company Retirement Plan Simple IRAs and 401(k)s are typically the best retirement-plan options for companies with more than 10 or 15 employees. Kathy Kristoff, finance writer, explores what to consider when setting up such plans, including the safe-harbor provision and the discrimination tests that apply to 401(k) plans. To read the full article in Inc., click: Pick the Right Retirement Plan–for Both You and Your Employees.
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This article covers recent developments in employee benefits, examining, among other things, the Affordable Care Act’s complicated reporting requirements, the proposed fiduciary responsibility rules, and updated procedures to correct employee plan failures. Terry Richardson, principal, and Bryce Tholen, manager, both with PwC LLP in Dallas, take an in depth look at what’s involved.. To find out more on The Tax Adviser article, click: Current Developments in Employee Benefits and Compensation.