The 2002 Form 5500 and Form 5500-EZ includes modifications to reflect changes in the law or regulations, to improve forms processing and to clarify the instructions.
- Addition of several new principal business activity codes for Form 5500, line 2d, and several new plan characteristics codes for lines 8a and 8b
- Removal of lines 8c and 10c of Form 5500 and Schedule F as a result of IRS Notice 2002-24 that suspended the filing requirements for fringe benefit plans
- Elimination of several lines from Schedules B and R due to the phasing out of certain rules under Internal Revenue Code section 412(l) and ERISA section 302(d)
- Addition of lines 16a through 16c and 17a through 17e to Schedule E concerning ESOPs maintained by S Corporations
- Modification of Schedules H and I line 4a to highlight PWBA’s Voluntary Fiduciary Correction Program and Prohibited Transaction Exemption
- Advising Schedule SSA filers who need to report more separated participants than Schedule SSA allows that the Social Security Administration requires that filers use additional Schedule SSA as attachments
Information copies of the forms, schedules and Form 5500 instructions are available on PWBA’s Web site at http://www.dol.gov/pwba/5500main.html