Significant Changes Proposed for Employee Benefit Plan Reporting


Joseph Urwitz predicted that proposed changes to Form 5500, an annual report submitted by employee benefit plans to the IRS, “will help provide the IRS a potential roadmap in case the plan is audited to highlight potential mistakes,” Mr. Urwitz pointed out that, while most changes will not take effect until 2019, others could have more immediate impact, and that the changes include greater transparency on investments and fees.