Reporting requirements*
| Item | Description | Recipient | Due date |
|---|---|---|---|
| Form 1099-R | Report of distributions from pensions, annuities, retirement or profit sharing plans, IRAs, insurance contracts, etc. | IRS and payees | 1/31/2023 payees 2/28/2023 (3/31/2023 if filed electronically) IRS additional 30 days available if extension requested |
| Form 11-K | Annual report required where employee contributions may be invested in company stock | SEC | 6/29/2023 |
| Form 5558 | Application for extension of time to file Form 5500 and/or Form 8955-SSA; extension up to 2½ months after the normal due date. Not required if filer uses automatic extension to 10/16/2023*, i.e., plan year and employer tax year are the same and employer is granted extension for tax return | IRS | 7/31/2023 |
| Form 5500 (including applicable schedules and attachments) | Annual return/report of employee benefit plan | DOL | 7/31/2023 (10/16/2023* if extension applies) |
| Form 8955-SSA | Annual statement identifying participants with deferred vested benefits | IRS | 7/31/2023 (10/16/2023* if extension applies) |
| Comprehensive PBGC premium filing | Flat-rate premium payment and variable-rate premium payment | PBGC | 10/16/2023* (variable-rate premium can be an estimate with true-up by 4/30/2024 if certain conditions are met) |
| PBGC reporting for underfunded plans | Annual reporting of financial and actuarial information. Required when any plan in the controlled group has a funding ratio below 80%** | PBGC | 4/17/2023* (if all nonexempt controlled group members have the same non-calendar fiscal year, 105 days after close of fiscal year). Separate, additional reporting required within 10 days of missed contributions exceeding $1 million in the aggregate |
*The IRS, DOL, PBGC and SEC, as applicable, extend the filing due date to the following business day when the due date falls on a weekend or holiday.
**The PBGC waives reporting if the aggregate underfunding of the controlled group’s underfunded defined benefit plans does not exceed $15 million.
Disclosure requirements*
| Item | Description | Recipient | Due date |
|---|---|---|---|
| Summary of material modifications | Summary of any material change to SPD information adopted in 2022 | Participants and beneficiaries | 7/29/2023* |
| Summary annual report | Summary information on plan’s financial activities as reported on Form 5500 (not applicable to defined benefit plans subject to Title IV of ERISA) | Participants and beneficiaries | 9/30/2023* or two months after Form 5500 is due, if later |
| Summary plan description | Summary of plan in easily understandable language | Participants and beneficiaries | Within 90 days after individual becomes a participant and within 90 days after beneficiary first receives benefits. Updated SPD every five years if changes made; otherwise every 10 years |
| Participant benefit statement | Statement including participant’s total accrued benefit, vested benefit and certain other information | DC plans: participants and beneficiaries | DC plans: within 45 days of the end of each calendar quarter if participant directs investments; otherwise annually by date 5500 is filed for plan year to which statement relates but not later than due date of such 5500 |
| DB plans: active participants | DB plans: every three years or provide annual notice of availability | ||
| Annual funding notice | Notice of plan’s funding status. Required for defined benefit plans subject to Title IV of ERISA | Participants, beneficiaries, labor organizations (if applicable), PBGC (if more than $50 million underfunded) | 4/30/2023* Small plans with 100 or fewer participants, counting all defined benefit plans in the controlled group, may have additional time to furnish |
| Rollover notice | Explanation of direct rollover option and related federal income tax rules | Recipients of eligible rollover distributions | Generally, not less than 30 and not more than 180 days before the date of distribution; 30 days may be waived by recipient |
| Optional forms explanation | Explanation of payment options, right to defer and consequences of not deferring | Recipients of distributions | Generally, not less than 30 and not more than 180 days before the date of distribution; 30 days may be waived by recipient |
| QJSA notice | Written explanation of qualified joint and survivor annuity provisions, relative values and election procedures. Required for plans subject to joint and survivor rules (generally, defined benefit and money purchase pension plans) | Participants | Generally, not less than 30 and not more than 180 days before the annuity starting date; 30 days may be waived by recipient |
| QPSA notice | Written explanation of plan’s qualified preretirement survivor annuity provisions. May be required for plans subject to joint and survivor rules (generally, defined benefit and money purchase pension plans). Most plans are designed to be exempt from this notice requirement | Participants | Generally, between first day of plan year in which participant reaches age 32 and end of plan year prior to attaining age 35, or one year after the individual becomes a participant, if later |
| Suspension of benefits notice | Explanation of why benefit payments are being suspended upon reemployment or continued employment after reaching normal retirement age | Participants who commenced receiving benefit payments that are suspended because of reemployment or who continue working after their normal retirement age and do not commence benefit payments | During the first calendar month or payroll period in which benefits are suspended |
*The DOL does not have an official policy extending the due date for disclosures to the following
This summary chart focuses on the most typical reporting and disclosure requirements and is for informational purposes only. It should not be used as a substitute for legal, accounting, actuarial or other professional advice.
Download
| Title | File Type | File Size |
|---|---|---|
| 2023 Reporting and disclosure requirements under ongoing calendar-year qualified plans | .1 MB |
Contacts
Senior Director, Retirement and Executive Compensation
email
Email
phone
+1 203 326 6315
Senior Director, Retirement and Executive Compensation
email
Email
phone
+1 203 326 4625
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