5500 E-file: User Responsibilities

Document Retention

Retention periods are specified in the Internal Revenue Code and ERISA, and implementing regulations. The Plan Administrators and Direct Filing Entities must retain a copy of the filing signed by the Filing Signer(s) and any acknowledgments received from the DOL, along with all other documents required by the Internal Revenue Code and ERISA.

Filers may use electronic media for record maintenance and retention, so long as they meet the applicable requirements. For more information, see the instructions to Form 5500/5500-SF/5500-EZ.

The signer must also retain a copy of the Schedule MB or SB signed by the actuary and, where applicable, a copy of the IRS Form 5558: Application for Extension of Time to File Certain Employee Plan Returns.

Submitter Responsibilities

Communications on filing errors and statuses are directed to the submitter. In the case that the submitter is not also the plan sponsor or administrator, the submitter is responsible for ensuring that accurate communication is directed to those responsible for filing the Form 5500/5500-SF/5500-EZ annual return/report.

E-file/5500_ef_user_responsibilities.htm/TY2020

Last Modified: 12/16/2020

Last System Build: 09/13/2021