Release Date: 04/18/2000 Release Number:
00-23 Contact Name: Gloria Della Phone Number:
202.219.8921
The U. S. Department of Labor today published a
final rule amending the annual reporting regulations under the Employee
Retirement Income Security Act (ERISA) which conform them to the new
streamlined Form 5500, schedules and instructions.
The final rule updates references to the new
structure and components of the revised Form 5500 and includes various
technical and conforming changes relating to, among other things, the
establishment of the Form 5500 as the standard format for annual reports filed
by direct filing entities such as master trust investment accounts and 103-12
investment entities.
The final rule also includes an updated
cross-reference guide as an appendix to the summary annual report (SAR)
regulation. The appendix is designed to help plan administrators complete the
SAR that must be furnished annually to participants and beneficiaries.
In addition, the final rule clarifies the
reporting requirements for certain group insurance arrangements (GIAs). Welfare
plans that participate in a GIA are exempt from ERISA's reporting requirements
if the GIA files a Form 5500 on behalf of all participating plans and certain
other conditions are satisfied. The final rule requires that GIAs must use a
trust as a vehicle for payment of insurance premiums to an insurer to be
covered by the exemption. This requirement is effective for plan years
beginning with the first reporting year of the GIA commencing on or after
January 1, 2001.
The final regulation is scheduled to be published
in the April 19 Federal
Register. This information and a hyperlink to the final regulation will be
available on PWBA's internet site at www.dol.gov/dol/pwba in the near future.
U.S. Department of
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