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Submit electronic Form 5500 by next Jan. 1

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in Employee Benefits Program,Human Resources

By Jan. 1, 2009, you will have to file an electronic version of Form 5500, the annual report of your employee benefits plan. The original deadline was Jan. 1, 2008, but employers complained they didn’t have enough time to comply with the new rule because the U.S. Labor Department’s Employee Benefits Security Administration didn’t publish its final rules until November.

The revised rule not only replaces the paper-reporting system with an electronic one, but also changes the kind of information organizations must submit about fees and expenses. Get the form and instructions from www.dol.gov/ebsa/5500main.html.

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