Question: What is EFAST?

Answer: EFAST is a computerized processing system that is designed to simplify and expedite the receipt and processing of the Form 5500 and Form 5500-EZ by relying on computer scannable forms and electronic filing technologies. The Form 5500 and Form 5500-EZ are filed each year by more than one million pension, welfare and fringe benefit plans to satisfy annual reporting requirements under the Employee Retirement Income Security Act (ERISA) and the Internal Revenue Code.