The IRS and U.S. Labor Department are joining forces to make surecomply with annual filing requirements under ERISA (Employee Retirement Income Security Act), specifically Form 5500.
The agencies are researching databases to identify employers that failed to file their 2001 Forms 5500. They'll use that information to scout out potential nonfilers for this plan year. Starting this month, problem employers will be mailed letters of inquiry.
For advice on filing this form, see a new "Troubleshooter's Guide" to filing Form 5500 at www.dol.gov/PWBA/ PDF/troubleshootersguide_pt1.pdf.
- How to Fire an Employee the Legal Way: 6 Termination Guidelines
- Watch those pension funds--or watch the feds swoop in
- 8 ways to ensure the effectiveness of your flex plan
- Solidify an independent contractor's status by proving he turned down employee job offer
- After-school activity: Put your kids on the payroll