Annual Return/Report of Employee Benefit Plan (Form 5500)
OMB Number 1210-0110
March 2017
Justification for Nonmaterial/Nonsubstantive Change
The Department is submitting the current, 2017 version, of the Form 5500 and instructions as a non-material/non-substantive change request. (OMB Control Number 1210-0110, which currently is scheduled to expire on August 31, 2018). The Department is not making any program changes to the forms and instructions for 2017. The forms and instructions have been updated to reflect the new form year (2017). As noted in the “Changes to Note” section on the first page of the instructions, revisions include the removal of IRS-only questions, updates to the Authorized Service Provider Signatures to reflect the ability for service providers to sign electronic filings on the plan sponsor and DFE lines, where applicable, in addition to signing on behalf of plan administrators on the plan administrator line, updates to the administrative penalty amounts, clarifications regarding plan name changes, updates to mortality codes in Schedule MB, and a clarification regarding PBGC insurance coverage.
The Department has updated the hour and cost burden associated with the annual information return/report of employee benefit plan IC to reflect its most recent data on Form 5500 filings and wage rates. There were 22,000 additional filings, which led the hour burden to increase from 550,000 hours to 583,000 hours. Increased wage rates led the cost burden to increase from $232,880,000 to $266,073,000.
| File Type | application/vnd.openxmlformats-officedocument.wordprocessingml.document |
| File Title | NOTE TO REVIEWER: |
| Author | Anja Decressin |
| File Modified | 0000-00-00 |
| File Created | 2021-01-22 |