Form 5500 For 2000 Unveiled

The information copies were released by the Department of Labor’s Pension and Welfare Benefits Administration (PWBA), the Internal Revenue Service and the Pension Benefit Guaranty Corporation.

Though both Form 5500 and Form 5500-EZ for plan year 2000 are essentially unchanged from last year, some changes were made to reflect changes in the law and to clarify instructions, including:

• replacement of the “green drop-out ink” used in the 1999 Form 5500 and Form 5500-EZ  “hand print” forms with “gray scale” versions (black ink with gray shading)
• the 2000 hand print forms can be completed using EFAST approved software
• the instructions include an expanded list of tips to help filers avoid filing errors under the ERISA Filing Acceptance System (EFAST)

The Internal Revenue Service also released information copies of the Form 5500-EZ return to be used by certain one-participant retirement plans for plan year 2000 filings.  The instructions for Form 5500-EZ will be issued shortly. 

Beginning in late February, the IRS will mail the annual Form 5500 and Form 5500-EZ package to filers.

Information copies of the forms, schedules and instructions are available on PWBA’s website . The list of approved software vendors on the EFAST website will be updated as software is approved for plan year 2000 filings. 

Filers needing help also can contact PWBA’s Help Desk at 202/219-8770. 

– Nevin Adams       editors@plansponsor.com