The Form 5500 is filed several months after the end of the plan year. At the time the employer created the plan, it listed the name, number and year of the plan.

ERISA mandates that plan sponsors (employers) must put forth the plan in writing, and give a summary plan description to plan participants. These materials must include the ERISA plan name and number as well as the plan year. They also need to contain the EIN of the plan sponsor and any other information. The plan document and the SPD contain the necessary information to complete Form 5500. You can also get assistance in form 5500 preparation services.

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Do not enter codes on line 8a for a welfare plan. For the index of Plan Characteristic Codes refer to page 20 of Instructions 2019 Form 5500. Then, enter the appropriate code(s), on line 8b. Start with "4" for codes that relate to welfare benefits such as group life, disability, and health plans.

If Form 5500 is used to describe a welfare program that includes only two medical plans (PPO, HMO, HFSA and HRA), the appropriate code would then be 4A (health, not including vision or dental). If the plan included AD&D, life insurance, dental and life insurance, the appropriate codes would have been 4A, 4B and 4D.

If the plan provides coverage through group policies (e.g. group life, medical or STD), check the box marked "Insurance". If the plan contains any self-funded coverages, such as HFSA, HRA or other self-funded healthcare plan, check the box for "General assets" Numerous employers offer HFSA-insured plans, which will be checked. You should not mark the boxes for 412 (e)(3) trusts or contracts; these are rare arrangements that require tax professionals or plan trustees.