2012 Form 5500 annual return/report series issued

The Employee Benefits Security Administration (EBSA), the IRS, and the Pension Benefit Guaranty Corporation (PBGC) have issued advance informational copies of the 2012 Form 5500 annual return/report, related instructions and schedules, and 2012 Form 5500-SF and instructions. The advance copies cannot be used to file a 2012 form.

Modifications to Forms 5500 and 5500-SF include changes to the instructions for signatures and dates, optional paid preparer information, and optional trust information. The instructions for “Signature and Date” have been updated to make it clearer that, when the plan administrator is an entity, the electronic signature must be the name of the person authorized to sign for the plan administrator. The instructions have been updated to include optional paid preparer information. Filers are encouraged to enter the preparer’s name and address. In the instructions for Form 5500, optional trust information has been added. Filers may optionally enter a trust’s name and EIN in Schedules H and I. The IRS encourages filers to provide this information. The instructions for Form 5500-SF has also been updated to include optional trust information.

Reporting in Schedule MB has been clarified for changes in adjustable benefits and for amortization charges under the funding standard account statement for this plan year. In Schedule SB, additional detail is requested concerning the prior year’s excess contributions to be added to the prefunding balance.

The instructions for Form 5500-SF note that information on Form 5500-SF will not be published on the Internet for a “one-participant plan” that is electronically filed on Form 5500-SF with EFAST2 instead of being filed on a paper Form 5500-EZ with the IRS.

Source: EBSA News Release, December 4, 2012.

For more information, visit http://www.wolterskluwerlb.com/rbcs.

For more information on this and related topics, consult the CCH Pension Plan Guide, CCH Employee Benefits Management, and Spencer’s Benefits Reports.

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